Латиг на А.Г. Базовий курс англ йсько мови з економ ки (Basic English of Economics) п дручник

To the Student
“There are two ways of spreading

light: to be the candle, or the mirror
which reflects it.”
Business plays a vital role in the economy. If you wish to

succeed in business you should have a clear idea not only of trade,
marketing, management, finance, etc. but you also need to know
how to use and understand professional business vocabulary. This
book will take you through different business areas and will make
you understand what is required to be a successful businessman. It
will also help you master commonly used business terms relevant
to your chosen field of interest. You will find everything you need in
this book to become more proficient in your professional English
and to work more effectively in the world of business.
Good Luck
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DIAGNOSTIC PRE-TEST
DIAGNOSTIC PRE-TEST
Choose the most suitable word or phrase.

1. The president ______ the election yesterday.
a) won b) wins c) has won
2. When ______ the conference?

a) did you attend b) have you attended c) you will attend
3. This picture _______ by Goya.

a) is being painted b) was painted c) painted
4. He said his name ______ Tom.

a) is b) was c) were
5. If I meet him I ________ him my new address.

a) will give b) give c) would give
6. My friend wishes he ________ a car.

a) have b) has c) had
7. I want to finish this letter before my secretary _________ .

a) will come back b) came back c) comes back
8. He wanted me ______ him five euro.

a) lend b) to lend c) that I lend
9. The office manager had a difficult decision to make today, _____ ?

a) wasn’t he? b) didn’t he? c) hadn’t he?
10. Helen is ______ person I know.

a) the more intelligent b) the most intelligent c) most intelligent
11. She _______ here for 10 years.

a) is working b) has been working c) works
12. We _______ examinations twice a year.

a) have been taking b) take c) are taking
13. Last year we hoped she ________ come.

a) will b) would c) shall
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A. LATYGINA Basic English of Economics
14. If they ______ to an agenda, we must postpone the meeting.

a) have yet agreed b) still have not agreed c) already are agreeing
15. The new employee is both ambitious _______ hard working.

a) or b) neither c) and
16. When he ______, our representatives will present the new plan to the public.
a) arrived b) arrives c) had arrived
17. At this moment, I _______ my ears!

a) couldn’t believe b) can’t believe c) am not believing
18. She _______ all of her work by 9.00 p.m. tonight.

a) has finished b) is finishing c) will have finished
19. All my money _______ by the burglars!

a) was stealing b) has been stolen c) were stolen
20. He ______ away from work all this week.

a) is b) has been c) have been
21. Our guests _______ . They are sitting in the office.

a) had arrived b) arrived c) have arrived
22. If I ________ you I would tell him the truth.

a) was b) were c) am
23. All his money ________ spent on books last month.

a) was b) were c) have been
24. She has neither friends ______ relatives to help her.

a) or b) nor c) and
25. He is not so ______ as I am.

a) busy b) busier c) more busy
26. I wish you _______ so much coffee.

a) haven’t drunk b) drink c) didn’t drink
27. I expect _______ to help you.

a) him b) his c) he
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DIAGNOSTIC PRE-TEST
28. I heard that he _______ his own business.

a) established b) had established c) establishes
29. I didn’t see this girl _______ .

a) somewhere b) anywhere c) nowhere
30. I can’t join your company. I have ________ time.

a) few b) much c) little
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UNIT 1 BUSINESS AND BUSINESSES
LESSON 1
Text: Business Organization

Grammar: Present Simple and Present
Continuous
T e r m s t o r e m em b e r :
needs  потреби
satisfy (v)  задовольняти
survive (v)  вижити; продовжувати існувати
depend on (v)  залежати від
consumption  споживання
business  бізнес, комерційна діяльність, торгове

підприємство, фірма, справа, заняття
firm  фірма
company  компанія, фірма
vary (v)  відрізнятися; змінюватися
profit  прибуток
provide services (v)  надавати послуги
corporation  корпорація
multinational  міжнародна, мультинаціональна

корпорація
set up a business (v)  створювати бізнес
establish a business (v)  створювати бізнес

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start-up  нещодавно створена компанія
be in business (v)  займатися торгівлею, займатися

бізнесом
run a business (v)  керувати підприємством
do business (v)  вести бізнес, займатися бізнесом
trade (v)  торгувати
deal with (v)  займатися (чимось); бути клієнтом,

купувати (у когось)
go out of business (v)  ліквідувати підприємство
expand a business (v)  розширювати бізнес
specialize (in something) (v)  спеціалізуватися
diversify (v)  різноманітити, варіювати
owner  власник
affect (v)  діяти на
Business Organization
The economic system is made up of people with basic needs that they
must satisfy to survive. As most people cannot produce all the goods and
services they need, we depend on other persons or businesses to make them for
our consumption.
Business is the activity of producing, buying and selling goods and
services.
A business organization is a firm, a company or a business that makes,
buys or sells goods, or provides services, to make a profit.
Businesses vary in size.
Large companies are referred to as corporations. Many consider the
corporation the ideal way to organize business. Large companies operating in
many countries are multinationals.
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UNIT I BUSINESS AND BUSINESSES
Big business can refer to large business organisations or to any business
activity that makes a lot of money.
Small companies are referred to as small businesses or small firms.
When we start a business we talk about setting up a business or
establishing a business. New businesses are called start-ups. Once a business
has been established we talk about being in business or running a business.
To do business means to trade or deal with a company or country. It’s not
easy to organize a business and to operate it successfully. When a company is
not successful, it may go out of business.
The economic situation, as well as decisions taken by the owners of a
company, affect how it grows and changes. You may expand your business,
specialize in something, you may also diversify your business.
Exercises in Word Study
Ex.1.Form verbs and adjectives from the following nouns:

profit, operation, economy, decision, change, expansion, activity, success,
diversity, dependence.
Ex.2. Give the English for:

купувати і продавати товари; надавати послуги; отримувати
прибуток; заробляти гроші; створювати бізнес; керувати підприємством;
торгувати; економічна ситуація; рішення; власник компанії; діяти на;
розширювати бізнес; спеціалізуватися з чогось; задовольняти потреби;
залежати від; споживання; нещодавно створена компанія.
Ex.3. Match words from list A with words from list B that
have a similar meaning.
A B
depend on necessities of life
firm gain
set up a business sell out a business
go out of business establish a business
run a business enlarge a business
expand a business operate a business
affect company
profit influence
needs rely on
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Ex.4. Find suitable opposites to the following words and phrases:

to buy, loss, to close down a business, to set up a business, unsuccessful.
Ex.5. Match the nouns in the left hand column with the verbs
in the right hand column.
business buy
make
profit sell
provide
goods set up
satisfy
needs organize
run
money do
diversify
decision affect
expand
services establish
Ex.6. The words in the box frequently occur after “business”.
Find combinations that mean:

1. a small card showing a person’s name, position and company name;
2. a visit to clients, suppliers or other business contacts which takes you away
from home;
3. a document showing details of how someone aims to run the company,
expand, introduce new product lines, and so on;
4. the people who own a business together;
5. the process of running a company;
6. a college or part of university where courses on business subjects are taught;
7. the organizations and people involved in business;
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8. a meeting with lunch to talk about work or to entertain clients;
9. the ability to encourage or predict commercial activity;
10. a gathering of people to discuss work topics;
11. a letter about a business transaction, often following a certain form;
12. a private investor who invests money in the establishment of new often
risky, companies.
Ex.7. Look at the words and phrases in the box. Match them with the
correct definition from the list below.
1. a very large organization that owns companies in more than one country in
order to obtain cheap raw materials and make efficient use of a local
workforce;
2. the money gained in a business deal, esp. the difference between the amount
earned and the amount spent;
3. a person or business that owns something;
4. two or more people in business to make a profit by selling goods or services;
5. commercial activities in general;
6. a large group of companies;
7. to enter new types of businesses;
8. a nation’s system for allocating its resources among its citizens;
9. a business that is just being started.
Ex.8. Write the appropriate word or phrase in the following spaces.

Translate the sentences into Ukrainian.
1. It’s been a pleasure … with you.
2. My wife is a doctor, but I am … .
3. Small shops … very quickly.
4. She … her own company and proved to be a very good businesswoman.
5. They work for an engineering … .
6. When a … becomes bankrupt, its stock is of no value anymore.
7. The company … its sales force from 10 to 20 representatives.
8. … of that car bought it at an auto dealer.
9. Have you ever … with this company before?
10. He has no idea how … a successful business.
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11. An increasing number of European firms are … with Japan.
12. Very hot weather … how people feel and act.
13. She … her hunger by eating a steak.
14. … of alcohol in that country is forbidden.
15. That computer company is a …; all it has are few employees and a good
idea.
Go out of business, in business, to do business, company,
corporation, the consumption, the owner, dealt, trading, set up,
start-up, expanded, to run, affects, satisfied.
Ex.9. These words are often confused:

economic – economical, economics – economy
Economy – the organization of a country's wealth-producing commerce
and industry;
– the deliberate saving of money through carefully-controlled
spending.
Economics – the scientific study of a society's money, industry and trade.
Economic – related to the economy
– cost-effective
Economical – if something is economical it does not require a great deal of
money to operate
– an efficient way of doing things
Complete these sentences using the correct form of one of the words
above. Make sentences of you own to show that you understand the
difference in their meaning.
1. The government’s … policy has created a lot of problems.
2. It may be … to use a cheaper form of fuel.
3. Consultation will focus on the … and diplomatic issues.
4. … is one of the major subjects which future economists study.
5. We are looking for more … production methods.
6. The country is in a state of … crisis.
7. The new heating system proved … to use.
8. The government is attempting to reduce inflation and strengthen the … .
9. Industrial production has slowed down in all the world’s major … .
10. This machine is no longer … to run.
11. The IMF helps the … of the developing world.
12. Investors watch the rate of … growth closely.
13. My friend studies … .
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14. Buying second-hand equipment can be a false … .
Exercises in Comprehension
Ex.1. Answer the following questions:

1. What is the economic system made up of?
2. Why do people depend on businesses?
3. What is business?
4. What is a business organization?
5. Do businesses vary in size?
6. What are corporations?
7. Where do multinationals operate?
8. What do we call “big business”?
9. What does “to do business” mean?
10. When may a company go out of business?
11. What affects a company development?
12. What can a company do to improve its business?
Ex.2. Sum up what you remember about:

1) corporations and multinationals,
2) big business and small business,
3) doing business.
Grammar Revision
Present Simple and Present Continuous

We use the Present Simple:
for routines and habits
I go to the bank twice a month.
for permanent situations
My friend works in a bank.
for facts
Water boils at 100o centigrade.
for timetables or fixed events in the future, that are usually beyond the
speaker’s control:
The train leaves in 10 minutes.
We use the Present Continuous:
for actions happening now
I am working on my report at the moment.
for temporary actions or situations
I am staying with my friends till I find a new flat.
for changing or developing situations
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The economic situation is getting worse in this country.
to talk about something that happens often and is unplanned or irritating (with
always)
She is always grumbling and complaining.
to talk about future arrangements and plans:
I am leaving at four on the first flight to London.
Ex.1. Choose the correct variant.

1. All the guides here speak/are speaking at least two foreign languages,
because a lot of foreign tourists come/are coming every year.
2. Look! The meeting starts/is starting. We’d better go in.
3. I work/am working for Midmark, a firm that makes/is making medical
equipment.
4. I go/am going to the supermarket. Do you want anything?
5. The train is arriving/arrives at 7 a.m.
6. They always make noise/are making noise next door.
7. Our meetings usually are starting/start at 4 p.m.
8. When a company is not successful, it is going/goes out of business.
9. I work/am working overtime this week.
10. Tom is a very reliable person, everybody is trusting/trusts him.
11. He usually is coming/comes to his office on time.
12. The sun is setting/sets in the West.
13. Great Britain becomes/is becoming more popular as a location for
international business.
14. He earns/is earning over $ 20,000 a year.
15. People often spend/are spending a lot of their money on cigarettes.
Ex.2. Complete these sentences using the correct form (Present Simple
or Present Continuous) of the verbs in brackets.
1. I never (work) at the weekend.
2. He (smoke) 30 cigarettes a day but at the moment he (try) very hard to cut
down.
3. What you (think) about?
4. Business (become) more international and secretaries (need) international
communication skills.
5. He (make) paper products.
6. The speaker (wait for) a telephone call.
7. The manager (check) the production levels every day.
8. They (sign) the contract in the conference room. Don’t trouble them.
9. Multinationals (compete) for a market share.
10. The express train always (arrive) on time.
11. The delegation (to come) at 5 p.m. tomorrow.
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12. She (run) her own business.
13. I feel that we (make) too much noise.
14. The firm (specialize) in green tourism.
15. At present we (do) business with Japanese companies.
Ex.3. True or false? Correct where necessary.

1. Although we sometimes go to a restaurant, we usually are eating at home.
2. Most American families has at least one automobile.
3. I am usually going to the supermarket on Fridays.
4. My friend often go on business trips abroad.
5. Any businessman is wanting to make a profit.
6. Multinationals now operate in every sector of industry.
7. The largest bank in the country plans to close some of its branches.
8. The firm makes excellent progress this week.
9. My friend has collected necessary information about markets and now he
establishes his own business.
10. The South is depending more on small businesses for jobs than on large
corporations.
11. Women run 25 per cent of existing small businesses.
12. I can’t talk now. I make a report.
13. Due to expansion, we are looking for new business partners to join our
company.
Ex.4. Translate into English.

1. Ця компанія виробляє найсучасніші телевізори.
2. Не заважай мені! Я працюю над перекладом економічної статті.
3. Транснаціональні корпорації працюють в багатьох країнах світу.
4. Мій брат займається малим бізнесом.
5. Економічна ситуація в країні впливає на розвиток бізнесу.
6. Багато європейських компаній торгують з Японією.
7. Зараз уряд намагається знизити ціни на продовольчі товари.
8. Мій приятель вивчає економіку.
9. Моя фірма зараз шукає нових партнерів по бізнесу.
10. Він заробляє $ 15, 000 на рік.
11. Мене не цікавить ваша пропозиція. Я розширюю свій власний бізнес.
12. Власники торгових підприємств зустрічаються завтра о 9 годині.
13. Ця фірма завжди надає якісні послуги.
14. Він немає ніякої уяви про те, як керувати підприємством.
Speech and Discussion
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Ex.1. Talk to your groupmates:
which is the most interesting to work in:
a bank, a computer company, a hotel, a restaurant, a supermarket.
choose one of the places and speak about the advantages and the disadvantages
of working there.
Ex.2. If you were to choose where to work, would you prefer small
business or big business? Why?
Ex.3. Familiarize yourself with the following idioms. Consult your

dictionary and translate the sentences into Ukrainian. Think of
situations where you could use them:
1. I will make it my business to see that he gets the job finished in good time.
2. On his arrival he was robbed of all his money; a bad business!
3. He must mean business. He has paid ₤ 500.
4. You mind your own business and stay out of mine!
5. You have no business reading my mail!
Ex.4. Comment on the following proverbs and sayings. Think of

“Everybody's business is nobody's business.”
“Business before pleasure.”
LESSON 2
Text: Business Organization and the Economy

Grammar: Past Simple and Past Continuous
classify (v)  класифікувати

industry  промисловіcть, індустрія, галузь
промисловості
raw materials  сировинні матеріали
assemble (v)  збирати
finished products  готові вироби
manufacturing sector  виробничий сектор
wholesale trade  оптова торгівля
retail trade  роздрібна торгівля
service sector  сектор послуг
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own (v)  володіти
private sector  приватний сектор
enterprise  підприємство
pursue (v)  переслідувати (інтерес)
regulation  регулювання
restriction  обмеження
public sector  державний сектор
nationalize (v)  націоналізувати
sell-off  розпродаж
privatize (v)  приватизувати
supply  постачання
utilities  комунальні послуги
Business Organization and the Economy
Businesses may be classified according to which industry they are in: for
example, construction, oil, banking, food.
All the companies which make goods from raw materials or assemble
components into finished products work in the manufacturing sector.
All the companies which provide services in areas such as tourism,
banking and finance, communications, wholesale and retail trade work in the
service sector.
Besides, a company may be owned by the state, or by private individuals.
Privately – owned and – run companies work in the private sector.
A private enterprise is a system that allows individuals within a society
to pursue their own interest without governmental regulation or restriction.
State – owned and – run organizations are in the public sector.
When a private company is bought by the state and brought into public
sector, it is nationalized in a process of nationalization. A nationalized company
is state–owned.
When the state returns a company to the private sector in a sell-off, it is
privatized. This is privatization. The first to be sold off in a privatization
programme are often the companies responsible for the public supply of
electricity, water and gas: the utilities.
Ex.1. Form verbs and adjectives from the following nouns:

classification, industry, owner, privatization, regulation, restriction,
nationalization, responsibility.
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класифікувати, банківська справа, сировинні матеріали, готові
вироби, виробничий сектор, фінанси, зв’язок, оптова та роздрібна торгівля,
сектор послуг, володіти компанією, приватна особа, приватний сектор,
приватне підприємство, державне регулювання, обмеження, державний
сектор, націоналізація, приватизація, комунальні послуги.
Ex.3. Match words from list A with words from list B that have
a similar meaning:
A B
own company
goods permit
enterprise possess
allow commodities
in charge of restriction
limitation responsible

retail trade, nationalization, private sector, regulation, state-owned
organization, return, responsible.
business develop
assemble
industry finance
sell
components classify
start
product privatize
close down
company supply
pursue
interest nationalize
Ex.6. The words in the box frequently occur before “sector”.
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1. all the companies which assemble components into finished products, or
which make goods from raw materials;
2. all the companies which provide services in areas such as tourism, banking
and finance, wholesale and retail trade;
3. state – owned and – run organizations, e.g. government departments, and
nationalized industries;
4. privately – owned and – run companies;
5. all the companies which provide insurance;
6. all the companies selling goods to the general public.
correct definition from the list below:
1. the sale of goods in large amounts, and usually at lower prices, to stores and
businesses;
2. organized activity producing goods and services, eg. food, banking, tobacco;
3. a natural substance, eg. wool, coal, used to make something in an industrial
process;
4. the sale of goods to the general public;
5. controlling; making sure that an organization or a service works fairly and
well;
6. a limit on something;
7. one of the services supplying the public with gas, water, electricity, transport;
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8. the sale of a business or service owned by the government to private owners;
9. the process of bringing a company, or different companies in the same
industry, under government control;
10. a system for delivering goods or services.

1. Many young people are taking jobs in the rapidly growing … … – banking,
computer programming, financial services.
2. The computer … needs more people with advanced technical skills.
3. Wood is the … … used to make paper.
4. … … is the right to buy, own, use and sell almost any item.
5. She is … her own interest.
6. She … a bookstore.
7. The workers in that factory … trucks.
8. His … is located in the financial district.
9. … don’t allow workers to use company cars for personal use.
10. … of the banks is done by the government.
11. He … … his computers after going out of business.
12. The … … is powerful in the USA.
Sold off, regulation, restrictions, enterprise, assemble, owns,

pursuing, private property, raw material, industry, service sector,
electronic sector.
Ex.9. Fill in the missing prepositions.

To say that privatization is unpopular … Britain is to say nothing. Every
week brings fresh outrage tales … bosses … privatized firms picking … huge
pay rises while sacking employees and cutting the pay … those who remain.
The ordinary man, who has never liked privatization, wants the water and
electricity industries to be renationalized. So what can be said … defence …
privatization? Actually a great deal. A few years ago many Britain’s firms
working … public sector were losing large sums … money.
After they were privatized, most companies became more profitable. Most
had higher sales and a higher share price than … their first year after
privatization.
(in-4, up, of-5).
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to find – to found
to find – to discover by searching or by chance
to found – to establish
above. Make your own sentences to show that you understand the
1. Who were the … of the European Union?
2. I … $ 10 on the sidewalk.
3. Economists … money in the budget to increase help to the poor.
4. We … our partners waiting for us at the restaurant.
5. His grandmother … this company.
6. The … of that bank was a wealthy businessman.
7. I was lost but finally … my way back to the hotel.
8. Have any new multinationals been … recently?
9. He … a new job.
10. I … the purse lying in a telephone box.
Exercises in Comrehension

1. What principle may businesses be classified to?
2. What companies work in the manufacturing sector?
3. What companies work in the service sector?
4. What companies work in the private /public sector?
5. What is a private enterprise?
6. When is a private company considered to be nationalized?
7. When is a company considered to be privatized?
8. What companies are the first to be sold off in a privatization programme?
Ex.2. What is the difference between:

a manufacturing sector – a service sector;
a private sector – a public sector;
nationalization – privatization.
Ex.3. Sum up what the text says about business organizations and the
economy.
Grammar Revision
21
Past Simple and Past Continuous
We use the Past Simple:
for events or actions in the past

In her youth she worked hard at English.
for events that happened one after another
I finished my translation and sat down to watch TV.
We use the Past Continuous:
for actions in progress in the past
I was doing the translation all afternoon.
for action that was in progress when another action happened. The second
action is in the Past Simple.
When we came she was interviewing a new secretary.
for actions in progress at the same time in the past
The wind was blowing and it was raining heavily.
Ex.1. Choose the correct variant

1. He became/was becoming a very rich man when he was just 25.
2. The weather was terrible, it rained/was raining the whole day.
3. While Maria was writing the report, Henry looked/was looking for more
information.
4. At 7 o’clock this morning she studied/was studying.
5. The student was reading a magazine while the professor spoke/was speaking.
6. Henry ate/was eating a snack at midnight last night.
7. It snowed/was snowing heavily when he was waking up/woke up.
8. He often borrowed/was borrowing from me when we were students.
9. When he was young he was going/went swimming every Sunday.
10. When I was shopping in Richmond Street I saw/was seeing a car accident.
11. I talked/was talking to my boss when you rang.
12. Last year they were dividing/divided their business into two.
Ex.2. Complete these sentences using the correct form (Past Simple or
Past Continuous) of the verbs in brackets.
1. While my brother (study) for his exam, I (translate) a newspaper article into
Ukrainian.
2. Tom (write) a letter to his family when his pencil (break).
3. When I (clean) the house, I (find) some old letters.
4. The doorbell (ring) while I (have) a bath.
5. They (build) a new bank when I (be) there last year.
6. My friend (own) this company but the state (buy) it and (bring) into public
sector.
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7. I (phone) my parents when the door bell (ring).
8. We (not hear) the phone because we (sing).
9. During his visit to Switzerland he (go) skiing every weekend.
10. While he (watch) television he (hear) a loud cry for help.
11. They (establish) the company in the 1990s.
12. When the phone rang, I (talk) to a client.

1. As a child I never was staying up later than ten o’clock.
2. He was probably working in the office when we rang.
3. She talked to someone on the phone when I came.
4. I tried to learn the rule while someone outside played the guitar.
5. French hypermarket companies were beginning their operations in the
Spanish retail sector.
6. Public sector pay was rising by only 3 per cent last year.
7. Analysts predicted continued growth in the service sector last month.
8. Many people in the private sector were having to take very low pay increase
last year.
9. With a degree in business studies, she was hoping to find work in a
multinational corporation.
10. In an effort to improve its image, the company launched a new public
relations campaign.

1. Вони дивилися телевізійну програму, коли прийшла мати і розповіла їм
багато цікавої інформації.
2. Англія закупила товарів на ₤ 2 мільйони в минулому місяці.
3. Він не виконав роботу вчасно і тому залишився в офісі після роботи.
4. Його родина приватизувала декілька великих магазинів нашого міста
два роки тому.
5. Він припинив постачання обладнання для нашого заводу ще у
минулому році.
6. Вона прилетіла в Київ о десятій годині ранку і одразу зателефонувала на
фірму.
7. Поки вона вчилась на менеджера, вони ліквідували її фірму.
8. Коли вони почали розширювати свій бізнес, вона була володаркою
власної корпорації.
9. Ми добре навчилися задовольняти потреби наших клієнтів, коли
намагалися стати лідером у секторі послуг.
10. Коли він постачав вам сировинні матеріали, він переслідував свої
власні інтереси.
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11. Ми обговорювали наші плани щодо розширення бізнесу, коли
зателефонував наш клієнт.
12. Я не знаю, хто заснував цю компанію.
Ex.1. Talk to your groupmate:

 Which is the most interesting to work in:
a manufacturing sector, a service sector.
 Choose one of the sectors and speak about the advantages and the
disadvantages of working there.
Ex.2. If you were to choose where to work, would you prefer a public
sector or a private sector? Why?
Ex.3. Discuss with your groupmates the advantages and disadvantages

of:
 privatization
 nationalization

situations where you could use them.
1. We would manage much better without the help of backseat drivers like
Williams.
2. This business could be a gold mine if it were properly developed.
3. If you think Walsh will ever repay you, you are mistaken; I’m afraid you’ve
put your money on the wrong horse.
4. We are in deep water; we may have to sell the shop to pay our debts.
5. Peter has blued all the money you gave him on gambling and drink.
Ex.5. Comment on the proverb:

“In giving a man receives more than he gives.”
LESSON 3
Text: Ownership
Grammar: Present Perfect Simple
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join (v)  об’єднуватися, приєднуватися

purpose  мета
unlimited liability company  компанія з необмеженою
відповідальністю
limited liability company  компанія з обмеженою
be liable for  бути відповідальним за
debt  борг; зобов’язання
assets  майно, активи
sole trader/sole proprietorship  одноосібна власність
partnership/general partnership  товариство
private limited company (BrE)  закрита акціонерна компанія
/limited liability company (AmE)
public limited company  відкрита акціонерна компанія з
(BrE)/listed company (AmE) обмеженою відповідальністю
shareholder  акціонер
share  акція
wealth  матеріальні цінності, багатство
offer (v)  пропонувати
public  громадськість
stock exchange  фондова біржа
Ownership
A business is an organization of material, human, financial, and

information resources that are joined together for a specific purpose. Not all
businesses are owned and organized in the same way.
In unlimited liability companies the owners are personally and entirely
liable for the debts of the company. This means they may lose their personal
assets (e.g., their house or their car) if the company is in financial difficulties.
In a limited liability company (Ltd.) the owners are liable only for the
amount of money they have invested in the business.
Unlimited liability companies are subdivided into sole traders (BrE)/sole
proprietorship (AmE) (a type of business organization owned and run by one
person) and partnerships (BrE)/general partnerships(AmE) (a firm run by
two or more partners). A lot of professional people like lawyers, accountants and
so on, work in partnerships.
Limited liability companies are subdivided into private limited
companies (Ltd) (BrE)/limited liability companies (AmE) and public limited
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companies (PLC) (BrE)/listed companies (AmE). A private limited
company/limited liability company is a company which has shareholders
(people who own the wealth of a company) but which cannot offer its shares to
the public.
A public-limited company/listed company is a company whose shares can
be bought and sold (publicly traded) on the stock exchange.
Notes: A public limited company is privately owned. It is not run by the state.
Ex.1. Form adjectives from the following nouns:

organization, material, finance, information, purpose, specification,
wealth, liability, owner, person, difficulty.

фінансові та інформаційні ресурси, компанія з необмеженою
відповідальністю, власник, бути повністю відповідальним за борги
компанії, втрачати власне майно, фінансові труднощі, компанія з
обмеженою відповідальністю, одноосібна власність, товариство, закрита
акціонерна компанія, відкрита акціонерна компанія з обмеженою
відповідальністю, акціонер, пропонувати акції, продавати акції на
фондовій біржі.
Ex.3. Match words from list A with words from list B that have a
similar meaning.
A B
join sole proprietorship
purpose listed company
sole trader propose
public limited company aim
offer unite
organize stock
personal arrange
share individual

poverty, limited liability company, to buy, to disunite, to find, public.
Ex.5. Find the odd word.

1. company, business, firm, corporation, office, enterprise.
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2. sole proprietorship, limited liability, public limited company, partnership,
private limited company.
3. owner, investor, shareholder, consumer, managing director.
debt sell off
hold
asset pay back
buy
shares issue
run into
partnership join
form
business own
lose
Ex.7. The words in the box frequently occur after “debt”.

1. a person employed to recover money owed by a person or an organization;
2. paying loans back to the lender;
3. renegotiating the form of debts;
4. renegotiating the dates that debts are to be repaid;
5. the overall amount of an organization’s debt;
6. a period when a debtor is having trouble repaying their debts.
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1. a firm run by two or more partners;

2. a business owned by one person;
3. a company in which the owners are entirely liable for the debts of the
company;
4. a company in which the owners are liable only for the amount of money they
have invested in the business;
5. a company that may not offer its shares for sale to the public;
6. a company whose shares can be bought and sold on the stock exchange;
7. money owed by one person or an organization to another;
8. an item of value belonging to a person or a company;
9. one of many portions into which a company’s capital is divided;
10. a market where stocks and shares are bought and sold under fixed rules;
11. a person who owns shares in a company and is, therefore, a member of the
company;
12. (owning) a large amount of money, goods or property.

1. The person operating a … … owns the business in his or her own name.
2. Formed by two or more persons, the … is considered a business entity. Each
partner is responsible for the … .
3. All personal … of each partner are at risk if the business fails.
4. … receive dividends in proportion to the capital they invest.
5. Being a … … she works long hours in her hairdressing business.
6. The partnership collapsed as a result of the criminal activities of one of the …
.
7. He has … in British Gas.
8. He is a man of great … .
9. The … of going to school is to learn.
10. He works as a computer operator at the New York … … .
Stock exchange, wealth, purpose, shareholders, sole trader,
partners, shares, assets, debts, partnership, sole proprietorship.
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The limited liability company provides a framework … which a business
can operate effectively. A limited company is usually the best vehicle …
business. Shareholders inject capital and receive a return … proportion to the
capital they invest. They are eligible to attend an annual general meeting …
approve or otherwise the way the directors are running the business. Annual
general meetings also determine how much … the profit will be distributed …
shareholders.
Control … the company is … the hands of directors who are appointed …
the shareholders to run the company … their behalf.
(on, by, of-2, to-2, in-2, for, within)

to offer – to suggest
to offer – to propose something, express willingness to do something
e.g. He offered me a job.
to suggest – to propose something to do, to offer an idea or a plan for
consideration
e.g. 1. We suggest contacting the manufacturer directly.
2. I suggest we have dinner first.
3. He suggested various ways in which the service could be improved.
1. I … a new plan.
2. I … to take my friend to dinner.
3. They … fresh investments in our business.
4. He … that we have lunch at the hotel.
5. She … me a cigarette every time I see her.
6. They … him a job last week.
7. He … I look through the documents once more.
8. Our company … different services to our customers.
9. My friend … that we join our small firms.
10. His company … just its shares to the public.
11. He … going to the stock exchange.
12. I … you buy more shares of this company.
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1. Are all businesses owned and organized in the same way?
2. What is the simplest form of business ownership?
3. What are the owners liable for in unlimited liability companies?
4. What are the owners liable for in a limited liability company?
5. What are unlimited liability companies subdivided into?
6. What is a partnership?
7. What are limited liability companies subdivided into?
8. What is a private limited company?
9. What is a public limited company?
10. Is a public limited company privately or state-owned?

an unlimited liability company – a limited liability company;
sole proprietorship – partnership;
a private limited company – a public limited company.
Ex.3.Sum up what the text says about:

 unlimited liability companies and limited liability companies,
 sole traders,
 partnerships,
 private limited companies,
 public limited companies.
Grammar Revision
Present Perfect Simple

We use the Present Perfect Simple:
 for the action or situation which is finished
We have painted the whole house.
 for recent actions or events in the past that have a result in the present
You have broken the window!
 for actions or situations that began in the past and continue in the present
Windsor Castle has been a royal residence since the 11th century.
Time words or expressions which are often used with the Present Perfect
Simple:
for, since, just, already, yet, this morning (week), in the last few days, recently,
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lately/of late, never, ever, so far.
Ex.1. Look at the expressions in the box:
1. Divide them into those which talk about a present period and those
which talk about a past period.
2. Choose 3 expressions from each list and write sentences about your
own educational experience.
Ex.2. Choose the correct variant:

1. He published/has published a new book twice already.
2. I never was/have been to Italy, but I have gone/went to England last May.
3. I sent /have sent them an E-mail this week.
4. Did you register/Have you registered your ticket yet?
5. The plane from Paris has landed/landed an hour ago.
6. How many schools did you study/have you studied in?
7. The shop never made/has made any money.
8. Did it stop/Has it stopped snowing yet?
9. He was/has been in his office since early morning.
10. Mary called/has called her employer yesterday.
11. I answered/have answered three letters so far.
12. She was/has been away on business since last Monday.
Ex.3. Complete these sentences using the correct form (Past Simple or
Present Perfect Simple) of the verbs in brackets.
1. People (begin) to watch TV about 50 years ago.
2. I am looking for Tom. You (see) him?
3. I (see) him last week, but not today.
4. When I was a child, I never (eat) cheese.
5. He (organize) his sole proprietorship this year.
6. This morning I (take) a little walk.
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7. We (be) to our main office since 7.30.
8. I (know) the owner of this company all my life.
9. The company (change) a lot lately.
10. It (not rain) here for weeks.
11. She (be) a regular investor in my business.
12. How long you (be) in your current job?
13. He (have) several jobs since he left our company.

1. Your fax has arrived three days ago.
2. I haven’t been to the office since Sunday.
3. Has anyone seen my car keys?
4. I have passed my driving test.
5. I already had four cups of coffee today, and it’s only lunchtime!
6. I have been to most countries of Africa but I never visited Congo.
7. He has passed his exams last May.
8. He was busy all this week.
9. There is a lot of work to do recently.
10. Computers have become very important lately.
11. Don't worry about the order from Sony. I already dealt with it.
12. Over the last year or so, shareholders of this company made a 50% profit.
Ex.5. Translate into English:

1. Вона завжди давала мені багато корисних порад в бізнесі.
2. Ми не бачили його вже 2 роки.
3. Я щойно заплатив йому за цю роботу.
4. Я тільки що прочитав звіт наших партнерів.
5. Ви не одержали від нього жодного листа, чи не так?
6. Він надіслав нам ці документи позавчора.
7. Невже він повідомив вам цю новину?
8. У мене був вільний час і я продивився ваш контракт.
9. Твої друзі принесли тобі багато квітів і подарунків.
10. Його стаття була надрукована в нашому журналі.
11. Ми обговорили план співробітництва з цією фірмою дві години тому.
12. Вони інвестували в мій бізнес велику кількість грошей.

 Which is the most interesting to work in:
sole proprietorship, partnership, a private limited company, a public limited
company.
32
 Choose one form of business ownership and speak about the advantages and
the disadvantages of working in this type of business.
Ex.2. Interview an owner of a sole proprietorship, ask the following

questions:
1. Why are you in business?
2. Why did you choose this particular type of business?
3. What advantages and what disadvantages do you feel the sole proprietorship
has over other forms of business ownership?
4. How difficult is it to borrow money? And how do you arrange for additional
funds?
5. What advice do you have for someone who is thinking about going into
business?
Ex.3. You want to open a business. What ownership form would you
use? Why?
Ex.4. What do you think are the advantages of a small family-run

business?
 for the consumers/clients?
 for the owner?
 for the employees?

1. Despite the efforts of the government, the black economy continues to grow.
2. I didn’t know how to break the ice with him. We were both shy and had
nothing in common.
3. We must bring these partners to book; they deserve severe punishment.
4. We had to work on a shoe-string, with hardly any staff.
5. I could tell from the expression on the men’s faces that something was
cooking.
Ex.6. Comment on the following:

“Genius without education is like silver in the mine”.
(Franklin)
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LESSON 4
Text: Business Relationship

Grammar: Present Perfect Continuous
relationship  відносини
subsidiary  дочірня компанія, підконтрольна
компанія, філія
parent company  компанія-засновник; компанія, що
володіє контрольним пакетом акцій
іншої компанії, батьківська компанія
holding company  холдингова компанія
hold (v)  володіти
stake  частина (чогось), частка (капіталу),
акція
sister company  сестринська компанія
conglomerate  конгломерат
joint venture  спільне підприємство
remain (v)  залишатись
separate  окремий
legal entity  юридична особа
consortium  консорціум
undertake (a project) (v)  розпочинати, здійснювати (проект)
carry out (v)  виконувати, здійснювати
Business Relationship
As businesses expand they may buy shares in other companies, or join

with other companies for a particular purpose. There are different relationships
these companies can have with one another. A group is a number of subsidiary
companies operating under one leading company known as the parent
company. A subsidiary is a company that is half or wholly owned by another
company (the parent company).
A holding company is one that holds all, or more than half of, the stakes
in one or more subsidiaries. It is the leading company in a group.
A holding company’s relationship to its subsidiaries is that of parent
company, and the subsidiaries’ relationship to each other is that of sister
34
companies. The parent company controls its subsidiaries through its capital
interests.
A conglomerate is a group consisting of a lot of different companies in
different businesses run as one large company.
When two or more companies decide to work together, they form a joint
venture. In such cases, the two companies involved remain separate legal
entities.
A consortium is a group of companies which come together to undertake a
project which any one of the members cannot carry out alone.
Ex.1. Form adjectives from the following verbs:

hold, subside, separate, join, relate, lead, differ, expand, operate, know,
decide.

ділові відносини, розширювати бізнес, купувати акції, об’єднуватися
з іншими компаніями, провідна компанія, компанія-засновник, філія,
холдингова компанія, акція, сестринська компанія, спільне підприємство,
юридична особа, здійснювати проекти.
similar meaning:
A B
consist stay
stock parent company
separate different from smth. else
carry out make up one’s mind
operate share
holding company fulfil
hold function
decide be composed of
remain own

to shorten, to sell, similar, subsidiary, joint, legal, to leave.
start
35
stakes form
acquire
joint venture hold
own
project set up
undertake
subsidiary develop
Ex.6. The words in the box frequently occur before “company”:

1. the leading company of a group that holds all or more than half of the shares
of the other companies and usually controls other companies;
2. one of two or more organizations that are part of the same group;
3. a business formed by a group of people using money provided by them all;
4. a company of which at least half the share capital is owned by another
company, called a parent or holding company;
5. a company whose shares are recorded on the main market of a stock
exchange;
6. a company whose members are only responsible for its debts up to a limited
amount
7. a company that offers the same or better goods and services as another and
therefore competes for the same customers.
36
1. a connection between ideas, people or things;

2. the leading company in a group;
3. a holding company together with any subsidiary companies in which it owns
more than half of the share capital;
4. a business activity in which two or more people or organizations work
together;
5. a sum of money invested in a business;
6. a number of companies, sometimes involved with different products, joined
together and run as one large company;
7. a temporary association of two or more companies for a major project that is
too complex for any of them to do alone;
8. allowed or required by law, lawful.

1. One of the oldest breweries has now joined an international … of drinks
manufacturers.
2. There are now five … companies in the group. Each … company trades under
its own name.
3. The businessman formed a … company to control all his assets.
4. They have a 25% … in the business.
5. Our … company may share some of the advertising costs with us.
6. An American and a German auto maker agreed to form a … … to build
trucks.
7. Those two companies have a close working … .
8. She … stocks of 12 companies.
9. This product has … popular for many years.
10. The company will … the building of a large warehouse.
11. The cost of making the product and the cost of selling it are two … issues.
Undertake, remained, holds, relationship, joint venture, sister,
stake, holding, subsidiary (2), conglomerate, separate.
Ex.9. Fill in the missing prepositions:

1. The group’s shares fell … 10 per cent … … a fall in the home market.
37
2. Our parent company has its headquarters … Finland.
3. Nestle Corporation, … its many branches and subsidiaries, is one … the
world’s largest food manufacturers.
4. Multinational corporations now operate … every sector … industry.
5. Philip Morris is a holding company which owns several major American
companies … the tobacco and food industries.
6. Warner Bros. is an entertainment conglomerate that produces television
programmes … broadcasting all over the world.
7. Japanese and US firms … the textile industry continue to enter … joint
ventures … India.
8. The hotel was finally rescued … a consortium … local business owners.
9. I work … a construction company which has a lot … contracts … other
countries.
10. The partners … a joined venture agree to control and manage the business
together.
(into, for (2), of (4), with, in (7), by (2), because of)
Ex.10. These words are often confused

to rise – to raise
to rise – is an intransitive verb, i.e. it cannot take an object
e.g. Prices rose last month.
to raise – is a transitive verb, i.e. it is followed by an object.
e.g. They raised the prices.
1. Many firms try to survive by … productivity.
2. We are trying … money to buy a new computer class.
3. My boss … my salary by 5%.
4. The petrol prices … by 15 % this week.
5. West European car sales … from 1 to 1,5 million.
6. Sales have … by 8 % this month.
7. We have … our profit levels by 10 %.
8. They managed to … sufficient capital to keep the company buoyant.
9. She … the question of overtime payments.
10. His report … some valuable points.
11. Companies needing money for development may … capital on the stock
exchange by selling shares.
12. Large and small businesses need a capital market in which they can …
finance.
13. Prices are … at an alarming rate.
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14. They … their fees last year.

1. What do you know about different relationships that companies can have
with one another?
2. What is a group?
3. Is a subsidiary owned by another company?
4. What is a holding company?
5. What is a conglomerate?
6. Under what circumstances is a joint venture formed?
7. Why do companies unite into a consortium?

a parent company – a sister company
a group – a joint venture
a conglomerate – a consortium
Ex.3. Sum up what the text says about:

 parent companies
 subsidiaries
 conglomerates
 joint ventures
 a consortium
Grammar Revision
Present Perfect Continuous
We use the Present Perfect Continuous:

 to talk about actions or situations that began in the past and continue in the
present
He has been working for Lloyds since 1998.
 to talk about a recent action that has a result in the present
I have been working on the project – that’s why I am so tired.

1. He has developed /has been developing a new product for a month.
2. She has worked/has been working overtime since May.
3. My firm has sold/has been selling shares since September.
39
4. Have you read/have you been reading our company development programme
all day?
5. I have waited/have been waiting for our partners since 2 o’clock.
6. I have worked/have been working so hard that I haven’t seen my family for
weeks.
7. They have exhibited/have been exhibiting this new model since May.
8. My friend has looked/has been looking around for a new flat, but he hasn’t
found it yet.
9. What new products have you advertised/have you been advertising since I
last visited you?
10. How long have you worked/have you been working as a consultant?
11. I have tried/have been trying to ring them all day.
12. I have run/have been running the company since 2000.
Ex.2. Complete these sentences using the correct form (Present Perfect
Simple or Present Perfect Continuous) of the verbs in brackets.
1. I’m exhausted I (work) all day on my business plan, and I (not finish) it yet.
2. I (shop) all morning, but I (not buy) anything yet. I haven’t seen anything
I’ve liked.
3. I (wait) for two hours, but nobody (arrive) yet.
4. I (listen) to you for the past half an hour, but I’m afraid I don’t understand
your new idea.
5. The company (not make) any money for 2 months.
6. This shop never (make) any profit.
7. He (not have) a holiday for years.
8. My friend (be) President of the holding company for 3 months now.
9. I (read) a lot of special literature lately.
10. The parent company (finance) its subsidiary for 2 months.
11. How long you (work) for them?
12. We have spoken to each other on the phone, but we never (meet).

1. We have been thinking of ways to help our sister company for a week
already.
2. Our President has decided to change the management structure last May.
3. We have been placing an advertisement in Accounting Journal this Month.
4. They have raised the prices for gas last week.
5. They have been expanding their business for 6 months.
6. We have bought more than half of the shares of this company last month.
7. I have prepared the annual report since early morning.
8. My uncle knows everything about finance. He has been working as a
financial manager for 20 years.
40
9. I have been sending them a fax today.
10. My brother has quarrelled with his boss yesterday.
11. Bill is a natural salesman. He has been selling 10 cars since the beginning of
the week.
12. I wonder how Mary is getting on. I haven't heard from her for nearly a
month.

1. Він ремонтує свою машину вже дві години.
2. Вони перекладають документи на англійську мову цілий ранок.
3. Ви п’єте дуже багато кави останнім часом.
4. Він працює в цій компанії 20 років і ніколи ще не запізнювався.
5. Клієнти телефонують цілий ранок. Щось трапилось з комп’ютером.
6. Мені здається, що я стою в цій черзі цілу вічність.
7. Президент компанії розглядає мою заяву вже тиждень. Я сподіваюсь на
позитивну відповідь.
8. Я роблю покупки в цьому магазині вже 15 років.
9. Останнім часом виробничий сектор в Європі постійно зменшує
кількість робочих місць.
10. Вони займаються модельним бізнесом разом вже 10 років.
11. Як давно ви працюєте над цим проектом?
12. Наше спальне підприємство щойно створене.

 Which is the most interesting to work in;
A parent company, a sister company, a joint venture, a conglomerate;
 Choose one company and speak about advantages and disadvantages of
working there.
Ex.2. Discuss with your groupmates different relationships companies

can have with one another.

1. It’s a good job you weren’t at home when Jim called; he was in such a bad
temper.
2. It’s no good going to Mr. Brown for advice; he is only a sleeping partner.
3. We were all expecting him to fail, but he passed with flying colours.
41
4. It is better to tell a white lie than to lose a friend.
5. Since her wedding day my mother-in-law has been wearing the trousers.

“Self-confidence is the first requisite for great undertakings”
(Samuel Johnson).
LESSON 5
Text: Companies’ Restructuring

Grammar: Past Perfect Simple
restructure (v)  реорганізовувати, перебудовувати

witness (v)  бути свідком (чогось)
market  ринок
combine (v)  об’єднуватися
voluntarily  добровільно, за власним бажанням
merge (v)  зливатися, об’єднуватися, поглинати
merger  злиття, поглинання
controlling share  частка в капіталі компанії, яка
забезпечує контроль за її діяльністю
acquire (v)  придбати
make an acquisition  придбати
take over (v)  поглинати (компанію)
hostile takeover  (в бізнесі) одержання контролю над
компанією проти бажання її
менеджменту; вороже поглинання
raider  рейдер (приватна особа або корпорація-
інвестор, що має намір отримати
контроль над компанією шляхом
придбання контрольного пакета акцій і
призначення нових керівників)
willingly  охоче; добровільно, без примусу
make a bid  робити пропозицію (щодо купівлі
(for something) чогось за зазначену ціну)
price  ціна
buyout  придбання контрольного пакета акцій,
42
викуп
purchase  закупівля, покупка
staff  персонал, штат (службовців тощо)
divest of (v)  позбавляти; відмовлятися; відкидати
pull out (v)  відмовлятися від участі в чомусь
abandon (v)  відмовлятися, залишати
efficient  ефективний
profitable  прибутковий
aim  ціль, мета
Companies’ Restructuring
In the world of business we can often witness changes to the ownership or

structure of companies and groups of companies. As a rule companies join with
or buy other companies in order to have better control of a particular market, to
diversify their business, to strengthen their operations to remain profitable.
When two companies combine, usually voluntarily, they merge to form one
company in an agreement known as a merger.
To buy another company or to win a controlling share of a company is to
acquire a business, make an acquisition or take over a company. There are
two types of takeover: a hostile takeover is a situation in which a company is
bought out when the owners do not want to sell. Individuals or companies that
want to take over other companies are called raiders. A friendly takeover
takes place when a company is willingly bought out. When someone wants to
buy a company they have to make a bid for it, i.e. offer to buy it at a certain
price.
A buyout is the purchase of a company usually by buying the majority of
shares, especially by its management or staff.
If a company sells a business, it divests itself of that business. If you pull
out of a business activity, you abandon it, perhaps as part of a programme of
restructuring: reorganizing a business with the aim of making it more efficient
and profitable.

efficiency, profit, aim, price, will, hostility, volunteer, change, control,
activity.
43
світ бізнесу, зміни в структурі компанії, об’єднуватися добровільно,
придбати бізнес, поглинати компанію, власник компанії, купувати
(продавати) компанію, відмовлятися від діяльності, залишати бізнес,
придбання контрольного пакета акцій, персонал, програма реорганізації
бізнесу, прибутковий бізнес, мета.
have a similar meaning:
A B
witness stop participating
buy acquire
aim observer
staff purchase
make an acquisition purpose
enter new types of businesses gain
win stock
share diversify
hostile takeover offer to sell something at a certain price
bid unfriendly takeover
pull out personnel
a friendly takeover, to sell, demerger, inefficient, unprofitable, worse,
involuntarily, to lose.
market increase
flood
merger make
reduce
takeover take part in
play
acquisition agree (to)
fight
bid fix
price
Ex.6. The words in the box frequently occur before “market”.
44

1. the illegal economy, not approved by a government;
2. the situation of buying and selling goods for personal use, not for resale;
3. a place where raw materials and some manufactured goods are bought and
sold;
4. any market where there is a lot of buying and selling;
5. a place where deals are made relating to the long-term investment needed by
businesses;
6. a market where certain securities are plentiful and prices are low because
there are few buyers;
7. a market where foreign currencies are traded;
8. a market where conditions are good for the buyer;
9. a market where conditions are good for the seller;
10. a financial market at which the value of stocks and bonds goes down;
11. a situation in a financial market where prices are rising and lots of
shareholders are buying.
1. a business or part of a business taken over or bought by another company;

45
2. a person who saw something and can tell about it;
3. the buying of one company or most of the shares in it, by a person or another
company;
4. (in business) combining two companies into one larger company;
5. an offer to sell something at a certain price;
6. the amount of money for which something can be bought or sold;
7. the purchase of a controlling interest in business;
8. the workers or employees of an organization;
9. a situation where a person or an organization owns enough shares (usually
more than 50%) in a company to say how it should be run.
10. a person or company that buys a large number of shares in another company
before making a takeover bid or obtaining control.
Ex.8. Fill in the missing words which relate to business integration:

1. When two companies combine to form a larger single company, the new
company is the result of a _____.
2. When a company is incorporated into another firm that has bought the major
part of its shares and thereby gained control, we are witnesses to an ______.
3. _______ is a form of integration which can be accomplished either in a
_____ or a hostile manner.
4. One way of avoiding ______ is the decision by senior executives to attempt
a ______ .

1. This deal should be highly … .
2. We have … of twenty.
3. Choose carefully before making … .
4. We can’t afford to buy the computer at that … .
5. Our company made … to sell coffee beans at $ 10 per pound.
6. The family will never sell more than 49 per cent of the shares; they don’t
want any possibility of … .
7. The software company’s … of Acme Company will help it compete in the
hardware market.
8. The directors of both companies met to discuss the terms of … .
9. The two insurance companies have agreed … .
10. We … the project because it was too expensive.
11. … determines what goods are made.
The market, to merge, the merger, acquisition, a takeover, a bid,

price, a purchase, a staff, profitable, abandoned.
46
Ex.10. Fill in the missing prepositions and adverbs:

1. Rumours … a takeover led … a sharp rise in the company’s share price.
2. The company has launched a bid … a hostile takeover … its main rival in the
sector.
3. … a result … the friendly takeover … Eastern Foods Ltd., we can witness a
substantial increase … earnings.
4. His company makes a bid … Telecom Spain.
5. Santrix Corporation was taken … … Chesterton Corporation two years ago.
6. Making an acquisition … the computer industry will greatly improve the
company’s position … the market.
7. Many American banks have merged … the last 5 years.
8. Talks … a merger … Daimler and Chrysler caused speculation … job
security.
9. The staff signed a birthday card … me.
10. Two banks underwent a merger and combined … one huge operation.
(of (5), to, for (3), as, in (4), by, over, into, between, about)

to learn – to find out
to learn – to gain knowledge; to gain new information about a
situation, event or a person
to find out – to discover a fact or piece of information (something that
was previously unknown)
1. She … some American history in high school.
2. I just … that the payment is due tomorrow.
3. He is … how to use a computer.
4. We … about the accident from my friend.
5. She lost so much money in the stock market that she … a lesson.
6. Please … when they will discuss the terms of the merger.
7. When did you … about the acquisition of their companies?
8. We were glad … this good news.
9. We have not yet … whether he got the profit.
10. Please … how to get there.
11. Most of these business stories are true and we can … a lot from them.
12. I am returning the machine so you can … what is wrong with it.
47

1. What can we often witness in the world of business?
2. Why do companies join with or buy other companies?
3. What happens when companies combine?
4. What do we mean by “making an acquisition”?
5. What types of takeover exist in business?
6. What is a hostile (a friendly) takeover?
7. What do you have to do when you want to buy a company?
8. What is a buyout?
9. Why do businessmen restruct their business?

a hostile takeover – a friendly takeover
a buyout – a takeover
a merger – an acquisition

 a merger,
 making an acquisition,
 two types of takeover,
 a buyout.
Grammar Revision
Past Perfect Simple

We use the Past Perfect Simple
 to talk about an action or event in the past that happened before another
action in the past. The second action in the past is in the Past Simple
He had abandoned his business by the time I arrived in this city.
 to talk about an action or event in the past that happened before a definite
time in the past.
I had never been to London until this year.
 to give a reason for a past event or action
He didn’t come because he had missed the train.

1. He established/had established his business in 2001.
2. I was late for the company meeting because I missed/had missed the 6
o’clock bus.
48
3. She entered the University after she graduated/had graduated from the
business school.
4. We arrived late at the stadium and the football match had started/started.
5. When we came back to the hall, the guests left/had left.
6. Her face was familiar, I met/had met her at the university before.
7. Most of the delegates arrived/had arrived by the time I got there.
8. The general manager reported that our company had/had had a successful
year.
9. Before these two companies merged, their profit was/had been very low.
10. The plane left/had left when we arrived at the airport.
11. Did you manage to see your boss, or has he gone/had he gone by that time?
12. They were/had been our customers before we diversified our business.
Ex.2. Complete these sentences using the correct form (Past Perfect
Simple or Past Simple) of the verbs in brackets.
1. He already (work) in business before he joined our company.
2. We (win) a controlling share of the company before they went out of
business.
3. They just (start) their business when we worked out a programme of
restructuring.
4. As soon as this company (be privatized) their expenditures increased.
5. After they (invest) in this business, our share prices went up.
6. They (decide) to work together and (form) a joint venture.
7. As soon as our business (expand) we began to buy shares in other companies.
8. Several years ago these two companies formed a joint venture but they
(remain) separate legal entities.
9. The regulations (change) before we took over this company.
10. When they (make a bid) for a computer company they were ready to buy it
at that price.
11. I couldn't get into the office because I (leave) my keys at home.
12. Our manager was in a very good mood because we (win) a profitable
contract.

1. We met many times and reached an agreement at last.
2. When had you heard about the takeover?
3. We decided to replace our equipment because it became old.
4. Before he became bankrupt he sold most of his shops.
5. We did a lot of work with our clients before the board of directors introduced
new regulations.
6. The business had undergone major reorganization by the end of the year.
49
7. After we had introduced new technology our business had become more
efficient and profitable.
8. Before he invested in this business he studied the financial statement
carefully.
9. It had been one of the most reliable companies in the service sector.
10. He developed his business plan better than we had expected.
11. We finished our experiment by that time.

1. Представник фірми вже підписав контракт, коли вони припинили
постачання сировини.
2. Ми вже відправили звіт компанії, коли вона помітила деякі помилки.
3. Персонал компанії вже обрав нового президента, коли він
зателефонував.
4. До того як ми з’єднали наші компанії, цей бізнес був збитковим.
5. До кінця минулого року вони вже створили декілька спільних
підприємств.
6. До кінця вересня ціни зросли вдвічі.
7. Він запізнився на конференцію, тому що не встиг на перший автобус.
8. Вона вже завершила підготовку до щорічного звіту, коли менеджер
викликав її у свій офіс.
9. Ми вже розпочали роботу над нашим спільним проектом, коли він
залишив компанію.
10. Його бізнес став дуже прибутковим, коли він запросив нового
консультанта.
11. Вчора я знайшов документ, який так довго шукав.
12. Ці дві компанії об’єдналися ще до того, як він придбав контрольний
пакет акций.
Ex.1. Discuss with your groupmates:

 if it is profitable for companies to diversify their business
 if it is better for a company to merge or to take over another company

of:
 a friendly takeover
 a hostile takeover
 a buyout
50
1. Stop beating about the bush and tell me what you want.
2. Alison couldn’t have stolen your watch. She was out all day. You are
barking up the wrong tree.
3. That boy is quite impossible. From now on I wash my hands of him!
4. You have a head start over your competitors; your business has been
established longer than theirs.
5. If you could see our electricity bill, it would make your hair curl.

“Selective morality is not morality.”
(Thomas Sowell)
LESSON 6
Text: Organizational Structure

Grammar: Past Perfect Continuous
be in charge of (v)  керувати

Board of Directors  правління, рада директорів
Chairman of the Board  голова правління
customer  замовник, клієнт, покупець
day-to-day  повсякденний
employee  службовець, співробітник,
працівник
Finance department  фінансовий відділ
Head of a company  керівник компанії
hold a position (v)  займати посаду
location  місце знаходження, розташування
make a decision (v)  приймати рішення
Managing Director  генеральний директор
Marketing department  відділ маркетингу
personnel  персонал, штат
Personnel department  відділ кадрів
51
Production department  виробничий відділ
report to (v)  звітувати; підпорядковуватися
Research and Development  відділ наукових досліджень та
department розробок
Sales department  відділ збуту
senior executive /manager  керівник вищого рангу, менеджер
найвищого рівня
top executive/manager
Organizational Structure
In business organizational structure means the relationship between

position and people who hold these positions.
The structure of organizations varies greatly according to the nature of the
business. There are several factors which influence this structure:
 the number of locations and employees
 the economic sector
 the type of a market in which they operate
 the type of customers
 the degree of management control required
 the complexity of the business activities
The company is run by a Board of Directors; each Director is in charge
of a department. However, the Chairman of the Board, someone who wears
many hats, is in overall control and may not be the head of any one department.
The Board is responsible for policy decisions and strategy. The Managing
Director (sometimes called the Chief Executive Officer (CEO), or President in
the USA) is the head of the company, who has overall responsibility for the
running of the business. In the US, senior managers in charge of particular areas
are often called vice-presidents (VPs).
Most companies have Finance, Sales, Marketing, Production, Research
and Development (R&D) and Personnel Departments. These are the most
common departments, but some companies have others as well.
Most departments have a Manager, who is in charge of its day–to-day
running, and who reports to the Director; the Director is responsible for strategic
planning and for making decisions. Various personnel in each department
report to the Manager.
People at the head of an organization are often called senior executives or
senior managers, top executives or top managers.
52
Ex.1. Form verbs from the following nouns:
location, employee, decision, organization, operation, management,
activity, director, executive, development.

структура організації, службовець, економічний сектор, клієнт,
управлінський контроль, керувати компанією, рада директорів, голова
правління, керівник компанії, відділ збуту, виробничий відділ, відділ
кадрів, стратегічне планування, приймати рішення, персонал,
підпорядковуватися менеджеру, займати посаду.
similar meaning:
A B
day-to-day fulfil many functions
vary chief executive officer
customer decide
be in charge of staff
head division
make a decision manager
department change
personnel client
managing director be in control of
wear many hats every day
in the right hand column:
employee appoint someone to
employ
board of directors hire
pay
personnel dismiss someone from
train
customer receive
work on behalf of
department be in charge of
run
Ex.5. The words in the box frequently occur before “manager”.
53

1. a person in control of staff in one section of an organization;
2. a person in control of staff but under the authority of a manager;
3. a person in control of the manufacturing process;
4. a person in control of the design and quality of goods made by a company;
5. a person who is at the head of an organization;
6. a person responsible for the sales staff and their work;
7. a person responsible for recruiting and training employees and dealing with
their problems.
1. the place where something is located;

2. a person who works for another person, business or government;
3. a person who buys something from a shop, pays for a service or orders
something from a company;
54
4. a group of directors who are responsible for running a company and usually
have legal responsibilities to it;
5. a company director who is responsible for the day-to-day running of a
company;
6. the chief officer of a company who is responsible for deciding and carrying
out company policy;
7. a person in charge of a department;
8. the people employed by an organization; the staff;
9. people at the head of an organization;
Ex.7. A department can be involved in a number of activities. The

following diagram shows some very commonly used verbs to
talk about these activities. Study the diagram, consult your
dictionary and translate these verbs into Ukrainian. Make up
sentences with them.
purchases arranges
trains
concludes
contracts
takes care
of
department controls
is involved
in
cooperates
with
is in charge
deals with
of handles
55
Translate the sentences into Ukrainian:
1. She is … of this company.
2. Our company treats its … well with fast service and good products.
3. … is discussing the annual pay rise.
4. She is … the new project.
5. She is … of the finance committee.
6. My partner takes care of the … operations of the company.
7. He … a quick decision to buy the TV.
8. Training courses are provided for all company … .
9. She … directly to the company’s president.
10. New staff should report to the … .
11. … is responsible for making policy decisions.
12. Another title for the managing director is the … or the … in the USA.
reports, personnel department, personnel, made, day-to-day, the

head, in charge of, the Board of Directors (2), customers, an
employee, CEO, president.

Board of Directors
A board … directors are persons elected … the shareholders to control a
company and to look … their interests. The board is responsible … the overall
policy decisions … the company and … appointing the management team which
runs the company … a day-to-day basis. The majority … the board will have
management responsibilities … the company, but there might also be
nonexecutive directors who do not have any responsibilities. These might be
well-known industrialists, financiers or politicians who will improve the
reputation … a business. All directors will own shares … the business.
(in (2), on, for (2), after, of (4), by).
Ex.10. Fill in the gaps by choosing from the words below:

1. The employees responsible for carrying out general office duties are ______.
a) clerks b) accountants c) financiers
2. The employees who sell a company’s products are the _______.

a) sales representatives b) athletes c) managing directors
56
3. The employees who are responsible for seeing that the finished goods are
well made are the _______.
a) packers b) quality controllers c) economists
4. The workers who process data, under the control of managers and
supervisors, are the computer _______.
a) hackers b) operators c) dancers
5. The person who greets a visitor and tells him or her how to get to the right
office is the _______.
a) manager b) president c) receptionist
6. The clerical workers who use typewriters or word processors and who
produce letters and other documents, are ______.
a) secretaries b) editors c) teachers
7. The employees who check a company’s financial affairs are the ________.
a) statisticians b) accountants c) customers
8. The person appointed by the board of directors to be responsible for the

management team that runs a business on a day-to-day basis is the _______.
a) operator b) managing director c) seller
Ex.11. Match each activity (1-8) with a department (a-h).

1. checking quality a) Legal
2. selling products b) Purchasing
3. buying materials Chairman ofc) theSales
4. organizing training Board d) Accounts
5. delivering goods e) Production
6. keeping a record of payments Board of f) Human Resources
7. researching the market Directors
g) Marketing
8. advising on rules h) Transport
Managing Director or
Ex.12. Study the following President
organizational chart which shows the
different positions in a company:
Vice-president
Vice-president
Sales and Marketing
Administration
Director Director Manager Manager

Personnel Purchasing Domestic International
Department Department Sales Sales
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Personnel Purchasing Assistant Assistant Assistant Assistant
Assistant Clerk Manager Manager Manager Manager
Western Eastern Pacific Europe
Region Region Region
Look at the organizational chart and write the name of the

position in the blank.
1. He is in charge of the company. Everyone reports to him. He makes all final
decisions. He is the ______;
2. All of the sales personnel in Europe report to him. The Manager of
International Sales supervises him. He is the _______.
3. Her supervisor is responsible for all purchases made by the company. She
completes the forms for him to sign. She is the _______.
4. She helps all new employees with their forms for health insurance, pay
checks and so on. She is the _________.
5. The Directors of Personnel and Purchasing departments report to him, and he
reports to the Managing Director. He makes sure the company runs
efficiently. He is the __________.
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1. What does the structure within which business can operate depend on?
2. What factors influence this structure?
3. Who is the company run by?
4. What is the Board of Directors responsible for?
5. Who is the head of the company? What is he/she responsible for?
6. Who supervises the Managing Director?
7. What departments do most companies have?
8. What is the Director responsible for?
9. Who reports to the Director?
10. Whom do personnel in each department report to?
11. Who elects the Board of Directors?

Chairman of the Board – Managing Director
Board of Directors – Personnel department
Ex.3. Sum up what the text says about the structure of organizations.
Grammar Revision
Past Perfect Continuous

We use the Past Perfect Continuous
 to talk about an action which had been in progress before another
We often use it with for and since
I had been visiting this company for several weeks before they solved my
problem.

1. I had solved/had been solving this difficult problem for some time when he
appeared.
2. By the time we got to the office they had negotiated/had been negotiating for
2 hours.
3. He had already written/had been writing lecture notes for some time when we
rang him up.
4. They had looked/had been looking for some new information in the
documents for two days before they found a mistake.
5. He had reported/had been reporting to the manager before he left the office.
6. He kept looking at her, wondering where he had been seeing/had seen her.
7. He had smoked/had been smoking for 10 years before he gave it up.
8. The telephone had rung/had been ringing for 3 minutes before I answered it.
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9. When I came the Board of Directors had been discussing/had discussed this
contract for an hour.
10. We had been finishing/had finished the discussion by 5 o’clock.
11. He didn’t sign the contract until he had been reading/had read every word.
12. When I left my last job, I worked/had been working there for 10 years.
Ex.2. Complete these sentences using the correct form (Past Perfect
Simple or Past Perfect Continuous) of the verbs in brackets.
1. I (work) for the company for six years before I got a promotion.
2. He (live) in New York for 10 years when he decided to return to France.
3. I (read) the report before I left the office.
4. I (write) a letter to my partner when I heard this news.
5. He (fix) his car all day before he left for London.
6. The company (prepare) its annual report for a week when this event
happened.
7. By the 1990’s they (build) their financial empire.
8. Most of the customers (leave) by the time our managing director got there.
9. He had been listening to our conversation and I wondered how much he
(hear).
10. We were tired as we (work) since early morning.
11. She (not receive) any information until it was too late to do something.
12. I (look for) a new business partner for a month before I found him.

1. Everyone had been spending time packing boxes before the company moved
into a new office.
2. We were waiting for you for 2 hours before your secretary called.
3. I failed to speak to him as he had just been returning from his business trip to
Italy.
4. I hadn’t finished the report by Monday although I was working at it since
Wednesday.
5. When I telephoned my secretary she had gone out.
6. We had been finishing our experiment by the end of the year.
7. I had been studying the problem for a few days before I made a final
decision.
8. How long were you doing business in Spain before you met my boss?
9. She was working in the Marketing department for 5 years before she became
a good specialist.
10. He was working for this company for years before he could buy a house.
11. When the company went public, we were producing tourist equipment for 5
years.
12. Our lawyer studied the agreement for a week before we signed it.
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1. Вона розсердилася тому, що чекала на мене дуже довго.
2. Ми втомилися через те, що обговорювали наші фінансові плани
декілька годин.
3. Вона працювала у відділі збуту рік, перш ніж отримала підвищення.
4. Голова правління проглядав пошту вже півгодини, коли задзвонив
телефон.
5. Вона працювала в бібліотеці годинами, доки не написала цю доповідь.
6. Він деякий час уважно дивився на замовника, перш ніж підійти.
7. Він працював на цьому підприємстві 10 років, перш ніж став
генеральним директором.
8. Керівник компанії 2 тижні обмірковував усі деталі угоди, перш ніж
прийняти остаточне рішення.
9. Перш ніж стати клієнтом цієї туристичної фірми, він довго вибирав.
10. Вони довго збирали гроші, перш ніж замовити ці меблі.
Ex.1. Make an organizational chart for a company you know about.

Present the chart to your groupmates and tell what each person
on your chart does.

 which is the most interesting to work in:
finance department, sales department, marketing department, research and
development department, personnel department.
Ex.3. Give your own order of importance of the following activities of

a manager and give your reasons.
1. proper motivation of workers
2. making a profit
3. coordination of work
4. fighting competition
5. adherence to the goals set by the organization
6. creating agreeable working conditions
7. setting the organizational principles
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1. Peter’s success at college cut no ice with the selection committee. They were
not impressed with academic attainments but wanted a man with practical
experience.
2. We can kill two birds with one stone by combining our honey-moon with
our business trip.
3. You can take my word for it, I saw it with my own eyes.
4. The secretary led her boss by the nose until she had spent all his money.
5. You will find it difficult to open a shop in the High Street. There is a lot of
cutthroat competition in this town.

“Minds are like parachutes. They only function when open.”
(Anonymous)
TEST 1 (UNIT I)
Choose the word or word combination to match the definition.

1. A person who works under you.
a) leader b) supervisor c) subordinate
2. A private individual who runs a one-man business.

a) supplier b) sole trader c) partner
3. A very large organization that owns companies in more than one country.
a) association b) partnership c) multinational
4. The money gained in a business deal, esp. the difference between the amount
earned and the amount spent.
a) loan b) profit c) loss
5. To enter new types of business.

a) to succeed b) to cooperate c) to diversify
6. The sale of goods in large amounts, and usually at lower prices, to stores and businesses.
a) retail trade b) wholesale trade c) free trade
7. The sale of a business or service owned by the government to private owners.

a) nationalization b) restriction c) privatization
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8. A firm run by two or more partners.
a) consortium b) sole proprietorship c) partnership
9. A company in which the owners are entirely liable for the debts of the company.
a) unlimited liability company b) partnership
c) limited liability company
10. Money owed by one person or an organization to another.

a) wealth b) debt c) profit
11. A market where stocks and shares are bought and sold under fixed rules.
a) foreign exchange b) commodity exchange c) stock exchange
12. A sum of money invested in a business.

a) stake b) dividend c) interest
13. Combining two companies into one larger company.

a) bid b) witness c) merger
14. A business or part of business bought by another company.

a) purchase b) takeover c) sell-off
15. The workers or employees of an organization.

a) capital b) commodity c) staff
16. A person who works for another person, business or government.

a) employee b) colleague c) employer
17. A group of directors who are responsible for running a company and usually have legal responsibilities to it.
a) senior executives b) managing directors c) board of directors
18. State–owned and– run organizations.

a) insurance sector b) public sector c) retail sector
19. A limit on something.

a) restriction b) reservation c) regulation
20. A person who owns shares in a company.

a) creditor b) shareholder c) investor
63
UNIT II PEOPLE AND ORGANIZATION
LESSON 1
Text: Employment
Grammar: Tense Revision. Present time.
employment  зайнятість, робота за наймом;

надання роботи
reflect (v)  відображувати
be self-employed (v)  працювати самостійно; працювати
не за наймом
work freelance (v)  працювати не за наймом; бути
вільним художником
businesspeople  ділові люди
flexible  гнучкий
employer  наймач, роботодавець
entrepreneur  підприємець
fixed-term contract  строковий контракт
part-time worker  робітник, який зайнятий неповний
робочий день
permanent job  постійна робота
temporary job  тимчасова робота
administration  управління, керування (справа-ми);
адміністрація, керівництво
reject (v)  відхиляти
Human resources (HR)  персонал, людські ресурси
Human Resources department  відділ кадрів
recruitment  набір (кадрів); надання роботи
staff appraisal  оцінка роботи персоналу
welfare  соціальне забезпечення; допомога з
соціального забезпечення
pension  пенсія
ensure (v)  забезпечувати, гарантувати
available  наявний, доступний
meet the needs (v)  задовольняти потреби
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team  бригада, група, команда
job rotation  зміна робіт; ротація робочих завдань
job security  гарантія роботи, стабільність
роботи, гарантія зайнятості,
забезпечення роботою
Employment
Work plays a major part in most people’s lives. People of all sorts work in
business, and the terms businessman and businesswoman reflect this, referring
to a wide range of individuals, from the rich and famous to small company
owners, from people in large organizations to those who work for themselves.
Businessmen and women are referred to together as businesspeople.
Many people choose to be self-employed (to have their own business) or
to work freelance for several employers.
An entrepreneur is someone who starts their own company.
As the labour market becomes more flexible, many employers respond by
increasing the number of fixed-term contracts and part-time workers. We can
also speak about permanent or temporary job.
In large organizations, administration of people is done by the personnel
department, although this expression is now sometimes rejected. Companies
talk instead about their human resources or HR.
The Human Resources department of a company is responsible for
planning, recruitment of new people, staff training and development, staff
appraisal, welfare, pensions administration and industrial relations. It works to
ensure that the right people are available to meet the company’s needs.
Some companies move their workers regularly between teams or
departments. This is called job rotation. Job security is knowing or feeling that
a job will last for a long time.
Ex.1. Form nouns from the following verbs:

reflect, own, refer, recruit, train, appraise, administer, ensure, rotate,
secure, express, develop.
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зайнятість, ділова жінка, власник компанії, відділ кадрів, відповідати
за планування, набір нових кадрів, підготовка кадрів, соціальне
забезпечення, задовольняти потреби компанії, бригада, зміна робіт,
гарантія роботи, строковий контракт, роботодавець, оцінкa роботи,
працювати не за наймом, підприємець, постійна робота, тимчасова робота.
A B
available continue
rich business person
famous personnel department
businessman be in charge of
human resources department performance appraisal
be responsible for wealthy
staff renowned
ensure make sure
staff appraisal terminal contract
last personnel
fixed-term contract obtainable

employment, rich, full-time worker, employee, famous, regularly.
Ex.5. Match the nouns in the left-hand column with the verbs
in the right-hand column.
job recruit
receive
pension sign
conduct
fixed-term contract draw up
complete
personnel train
give up
staff appraisal do
retire from
recruitment of new people pay
employ
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Ex.6. The following sentences could be used to describe jobs. Find
sentences:
(a) that describe a positive aspect to a job;
(b) that describe a negative aspect to a job;
(c) that could be either positive or negative.
 It's a temporary job.

 It's a permanent job.
 It's well-paid.
 It's badly-paid.
 You work full-time.
 You work part-time.
 It's dull.
 It's tiring.
 It's demanding.
 It's stressful.
 It's stimulating.
 You have to clock in and clock out every day.
 You have to work in shifts.
 There are a lot of opportunities.
 There's a lot of job rotation.
 There's a lot of job satisfaction.
 You need to be talented.
 You need special training and qualifications.
Ex.7. The words in the box frequently occur after “job”.
73

1. an outline of the main aims and tasks of the work done by a particular
employee;
2. examining how much money a job is worth and how much the person doing
it should be paid;
3. the name of a person’s job;
4. a situation where a job is likely to be permanent;
5. dividing a full-time job for one person between two or more part-time
employees;
6. it is carried out to examine a particular job in detail;
7. a kind of notice put by an organization in a newspaper, company bulletin or
on the Internet;
8. the feeling of achievement and enjoyment a worker gets from a job;
9. a person who often changes his jobs.
1. a person or company that provides job;

2. the people who work in an organization;
3. having a paid job;
4. without a job;
5. an assessment of the quality of the employee’s work;
6. an agreement to employ someone for a limited period only;
7. two or more people working together;
8. the process of interviewing and choosing people to do a job;
9. personnel, employees;
10. a regular payment made by the state to a person who has retired from a job;
11. someone who works for her/himself and is not employed by a company;
74
12. a person who starts or runs a business activity, especially one that involves
financial risk.

1. He is out of work and looking for … .
2. He has got a highly-paid … in the oil business.
3. There are several … for administrative staff in today’s newspaper.
4. Although the pay is low, there is a high level of … .
5. We cannot afford to lose skilled … .
6. My … is coming up next week. I hope they decide to pay me more money.
7. The union is demanding greater … .
8. My actual … is departmental manager.
9. She is … and always open to new ideas.
10. She is responsible for the … of new staff.
11. After working for the company for 20 years, he was offered a good … .
12. She was a successful …, with her own tourist agency.
13. She used to work for a design agency, but now she is … .
14. He was … who built a company around a new type of beauty product.
Businesswoman, pension, recruitment, flexible, job title, job
security, job evaluation, personnel, job satisfaction, job
advertisements, job, an entrepreneur, employment, self-employed.

1. Job rotation has enabled our staff to broaden their range … skills.
2. The fastest growing sector … the labour market is … the employment of
women.
3. Could you tell me … the kind … work you are looking … ?
4. He has a good job … computers.
5. We are carrying … four job evaluations this week.
6. … a result … new technology more workers felt there was a lack … job
satisfaction.
7. She finds it difficult to live … her state pension.
8. We must reduce the amount … time and money spent … administration.
9. We get about 30% … our staff … recruitment agencies.
10. He lost his job and is now … welfare.
(on (3), as, out, for, from, of (6), in (3), about)
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personal-personnel
Personal means "belonging to someone", it is also used to refer to an
individual's ideas or preferences.
Personnel means the staff employed.
1. We haven't got the … to cope with the office work efficiently.
2. All our … have to wear a uniform for security reasons.
3. An interviewer shouldn't ask… questions during an interview.
4. You can leave your … belongings here.
5. I, …, am opposed to the plan, but my company is going ahead with it.
6. He receives … telephone calls at the office.
7. The company had to fire half of its … to save money.
8. Choosing a new car is a matter of … preference.
9. I don't know the man …, but he used to work for my father.
10. The … department deals with the staff, keeps records and deals with any …
problems.
11. Most writers use … experience as the basis for their novels.
12. In some companies the presence of … is controlled by time clocks.
Exercises in Comprehenson

1. What do we call people who work in business?
2. How do employers respond to the flexibility of the labour market?
3. What department is administration of people done by?
4. What is the Human Resources department of a company responsible for?
5. What is job rotation?
6. What is job security?
7. When a person works freelance, does he/she work for him/herself?
8. What is an entrepreneur?

 businesspeople
 Human Resources department
 job rotation
 job security
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Grammar Revision
Present time (Present Simple, Present Continuous)

1. We are not working/we don’t work on Saturdays.
2. I am working/work in London this month.
3. Does he work/is he working on any special project at the moment?
4. How often are you visiting/do you visit stock exchange?
5. Our company sometimes employs/is employing foreign consultants.
6. Do you like/are you liking your team?
7. Which hotel are you staying/do you stay in whenever you come to
Birmingham?
8. What sort of work does he do/is he doing? He works for MacDonalds.
9. Cars are becoming/become more and more expensive.
10. This badge shows/is showing your name, the company name and your job
title.
11. He is having/has a highly paid job in the oil business.
12. Our phone doesn’t work/isn’t working at the moment.
13. He likes/is liking his job.
14. At the moment we discuss/are discussing a specific current project.
Ex.2. Complete the sentences by putting the verb in brackets into the
correct tense.
1. He _____ some money at the moment until he starts university. (earn)
2. The shop ____ normally ____ open this late, but we are working different
hours up to Christmas. (stay/not)
3. The man who makes no mistakes ____ usually _____ anything. (make/not)
4. The UK ____ more popular as a location for international business .
(become)
5. The plane from New York ____ the airport. (circle)
6. I _____ about why he said such things. (think)
7. The currency rates always ______ so I advise you to wait until the value of
the Euro goes up. (fluctuate)
8. Why _____ he _____ at this blank sheet of paper? (stare)
9. I ______ that we should do it ourselves. (agree)
10. I _____ in Kyiv at the moment but I am afraid I will have to leave soon.
(live)
11. It _____ him $50 to buy food. (cost)
12. I always ______ the same point of view with my boss. (share)
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13. All I need from you is good advice. I _____ you to help me financially.
(expect/not)
14. Our company ______ several subsidiaries in Europe and _____ another one
in London. (have, set up).
Ex.1. Explain why work plays a major part in most people’s lives.
Ex.2. Can you think of any jobs that you would particularly hate to do?
Why?
Ex.3. Prove the necessity and the importance of the Human Resources
department for a company.
Ex.4. Would you take a job you didn't like in order to get experience
you need? Why? What would be your ideal job?
Ex.5. Some people believe that you should work hard today to prepare
for the future, while others believe in the philosophy that
“tomorrow never comes”, so you should enjoy life to the fullest
today. Discuss the advantages of each of these philosophies.
Then indicate which one you believe in and why.

1. The boss gave us the green light to go ahead with the project.
2. It’s no good complaining to the post office about the telephone engineer.
They will only white-wash him.
3. I got some black looks from the shopkeeper when I cancelled my order.
4. Have you seen a ghost? Your face is as white as a sheet.
5. When he lost his temper, he showed himself in his true colours.

“A man who wants to do something will find a way; a man who doesn’t
will find an excuse.”
(Stephen Dolley)
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LESSON 2
Text: Human Resources: the people

Grammar: Tense Revision. Past time
skills  навички
job title  назва посади
define (v)  визначати
personal assistant  секретар-референт
authority  керівництво, влада; повноваження
executive (exec)  керівник, адміністратор,
службовець; виконавець
supervisor  інспектор; керівник персоналу (на
підприємстві); контролер; керівник
нижчої ланки
workforce  робоча сила; кадри, штатні
працівники
on the payroll  в штатному складі (підприємства)
payroll  платіжна відомість
monthly-paid staff  персонал, який отримує заробітну
платню щомісячно
weekly-paid staff  персонал, який отримує заробітну
платню щотижнево
hourly-paid staff  персонал, який отримує заробітну
платню погодинно
white-collar worker  службовець; білий комірець
(працівник, зайнятий
інтелектуальною працею)
manual worker  робітник фізичної праці
blue-collar worker  робітник; блакитний комірець
(працівник, зайнятий фізичною
працею)
colleague/co-worker  колега, співробітник
Human Resources: the people
79
“Human Resources” means people, plus the skills and experience they
bring to an organization. Job titles such as “Accounts Manager” or “Personal
Assistant” define what people do.
An employer is a person or company that provides job. Boss is an
informal word meaning “someone in authority”, for example an employer or
owner of a company, or simply someone in a superior position.
The person who runs a specific part of an organization is called a
manager. An executive or, informally, an exec is usually a manager at quite a
high level. People at the head of an organization, as it was already mentioned,
are senior executives, top executives or top managers. Someone who is in charge
of making sure a job is well done e.g. on the factory floor, or in retailing, is
sometimes called a supervisor.
People working for a company are referred to as its workforce,
employees, staff or personnel and are on its payroll.
Payroll is the list of all the people employed by a company, and the
amount of money paid to each of them. The payroll is usually divided into
monthly-paid staff, weekly-paid staff and hourly-paid staff.
Professionals or people who perform various office jobs are white-collar
workers, while manual workers in factories, on building sites, etc. are called
blue-collar workers. Someone who works with you in your job is a colleague
(sometimes called a co-worker).

employer, provider, runner, manager, executive, supervisor, assistant,
authority, owner.

людські ресурси; навички та досвід; роботодавець; керівник;
службовець (2); платіжна відомість; персонал, який отримує заробітну
платню щомісячно/щотижнево/погодинно; робітник; колега; керівництво.
similar meaning:
A B
specific give
manual co-worker
provide definite
workforce physical
colleague possessor
80
define personnel
authority specify
owner power

employee, blue-collar worker, general, inferior, junior, formal.
Ex.5. Match the nouns in the left hand column with the
adjectives in the right hand column.
legal
payroll official
monthly
authority weekly
senior
staff chief
permanent
executive temporary
1. a person who works for another person, business or government;

2. a person who is employed to control, organize and direct part or all of a
business or organization;
3. (informal) a person who is responsible for the work of a company, a
department or at least one other person;
4. a person with authority who watches others work to make sure a job is done
properly;
81
5. a list of all the people employed by a company, and the amount of money
paid to each of them;
6. the (official) power to give orders, make decisions, etc.;
7. a person that you work with in a profession or business;
8. an employee who does unskilled work, usually in a factory;
9. a person who works in an office;
10. all the employees in an office or factory;
11. a manager in a company who has the power to spend money, hire and fire
employees.

1. The new salary structure only affects … .
2. Health and safety regulations state that all … must wear a uniform.
3. Many of his … are more qualified than he is.
4. The … has been reduced by half in the last five years.
5. If you have any problems please talk to your … .
6. She has been on the … for nearly 20 years.
7. I have no … to change decisions taken by management.
8. She has excellent advertising … .
9. She is an … with a bank.
10. The company has over 1000 people on its … .
Authority, executive, skills, payroll (2), supervisor, workforce,

colleagues, blue-collar workers, white-collar workers.

1. The company’s owner granted each manager authority to spend up … $
10,000 … travel.
2. We hired him and put him … the payroll.
3. The workforce … this area is well-educated.
4. My colleagues … the office agree … this proposal.
5. Most blue-collar workers … the USA do not belong … unions.
6. He got a white-collar job … a computer programmer.
7. She is the boss … the publishing company.
8. She has years … experience … marketing
9. Large corporations try to develop their human resources … giving
educational programs.
10. She is senior … the others … the company because she has worked here the
longest.
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(to (4), on (2), in (5), as, at, of, by)

employer – employee
employer – a person, company or organization that pays someone to
work for them
employee – someone who works for a person, business, or government
1. The company has 1200 … .
2. She asked her … for a pay rise.
3. The steel works used to be the largest … in the town.
4. She is an … of this company.
5. My … is United Chemical.
6. All the company’s … are encouraged to take part in training courses.
7. Philips is an equal opportunities … .
8. I’ll have a word with my … about leaving early this afternoon.
9. We cannot afford to lose skilled … .
10. There are plenty of seasonal … in the tourists industry.
11. Their … worked a ten-hour day.
12. Bill's … offered to pay for the course.

1. What does “Human Resources” mean?
2. What is an employer?
3. What is an executive?
4. Who is at the head of an organization?
5. Whom do we call “boss”?
6. What is workforce?
7. Where do white-collar workers work?
8. What do blue-collar workers do?
9. What is a supervisor in charge of?
10. What is a payroll?
11. What is a payroll usually divided into?
12. What do managers usually run?
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Ex.2. Explain the difference between white-collar and blue-collar

workers.

 Human Resources
 Employers and employees
 Executives
 Payroll
Grammar Revision
Past time (Past Simple, Past Continuous, Past Perfect Simple, Past Perfect
Continuous)

1. He decided to go to the office immediately when he remembered he _______
the door.
a) didn’t lock b) had not locked c) have not locked
2. He has tested four new machines since he ________ the company.
a) joined b) had joined c) has joined
3. When we installed the new equipment, it _______ already obsolete.
a) became b) had become c) has become
4. While we were seeking a new solution, they _______ everything to change
our plans.
a) had done b) were doing c) did
5. When she took her driving test, she _______ about 10 driving lessons.
a) had had b) had c) was having
6. The hotel manager called the police when he discovered that a guest ______
without paying his bill.
a) left b) had left c) leaves
7. He _______ in the laboratory when you rang.
a) worked b) was working c) had worked
8. Phil ______ to someone on the phone as we walked in.
a) talked b) was talking c) had talked
9. I ______ the report since early morning when suddenly he came.
a) was reading b) had been reading c) read
10. We _______ the main office before we moved into it.
a) were reconstructing b) reconstructed c) had reconstructed
11. She always _______ formal clothes to work.
a) was wearing b) wore c) had been wearing
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12. He _______ for 10 years at his telephone business, before he decided it was
time for a change.
a) worked b) was working c) had been working
Ex.2. Compete the sentences by putting the verb in brackets into the
correct tense.
1. He ______ in the USA for two years when he decided to buy a house. (live)
2. The telephone _______ when I was discussing this plan with my boss. (ring)
3. I _____ for their company from 1996 to 1998. (work)
4. I hardly ______ the office when it started to rain. (leave)
5. I _____ to London several times before 2000. (go)
6. We _____ the answer to that problem yet when he came. (find/not)
7. I haven’t seen him since he ______ working for our company. (stop)
8. They ______ so loudly that I could not hear his words. (talk)
9. As the equipment _____ we decided to replace it. (get old)
10. We ______ a lot of work with British suppliers when he bought the
company. (do)
11. After she had spoken to the manager, she ______ the report. (write)
12. The conference was very interesting and it was obvious that all the speakers
_______ their material very thoroughly. (prepare)

 what role human resources play in the work of a company;
 whose work is the most important in a company.
Ex.2. What qualities in your opinion are the most important for the
employer?

1. Providing services is the bread and butter of our business.
2. He was green with envy when I won the first prize in the competition.
3. We need $ 10, 000 to clear our debts. I’m afraid the $ 5, 000 Ted has offered
us is only a drop in the bucket.
4. I am not worried about the consequences. I have a friend at court.
5. We have a gentleman’s agreement. When you are dealing with Malcolm,
that is as good as a signed contract.
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“A man who builds his own pedestal had better use strong cement.”
(Anna Quindlen)
LESSON 3
Text: Recruitment Procedure

Grammar: Future time (uses of shall/will/
going to/present continuous/
present simple to talk about the
future)
T e r m s t o r e m em b e r
recruit (v)  наймати на роботу

hire (v)  наймати (робітників)
advertise (v)  рекламувати
vacancy  вакансія
employment/ recruitment  агентство з добору кадрів
agency
jobseeker  людина, яка шукає роботу
headhunter  спеціаліст, який підбирає на роботу
керівників вищого рангу
search (v)  шукати
persuade (v)  переконувати
promise  обіцянка
golden hello  золоте привітання; велика сума
грошей чи інша форма фінансового
заохочення, яку компанія пропонує
керівникам високої кваліфікації,
яких запрошує на роботу
financial enticement  фінансове заохочення
post  посада
apply for (v)  звертатися з проханням, подавати
заяву
application form  анкета, заява
job description  посадові обов’язки/вимоги;
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посадова інструкція
complete the form (v)  заповнити анкету
curriculum vitae (CV, BrE)  автобіографія, резюме
resume (AmE)  резюме
covering letter  супровідний лист
applicant  подавець заяви, прохач; кандидат,
претендент; заявник
Recruitment Procedure
Personnel departments are usually involved in finding new staff and

recruiting (hiring, AmE) them.
Recruitment is the process of employing new people. This process will
vary from one organization to another.
When a company needs to recruit or employ new staff, it may advertise
the vacancy in newspapers, or may contact an employment (recruitment)
agency, a private company that matches jobseekers with jobs. Companies
looking for senior staff may approach people working for another company, a
practice known as headhunting. Headhunters are specialist consultants who
search for high-level executives and try to persuade them to leave their current
job in order to go to work in another company. Executives may be persuaded to
move company by the promise of a golden hello: a large sum of money or some
other financial enticement offered by the company they move to.
If you are a jobseeker (a person who is looking for a job) and you are
interested in a particular post, you may decide to apply for the job. The first
step is to get an application form and a job description from the company.
The next step is to complete the form and return it with your curriculum vitae
(CV, BrE) or resume (AmE), which is a summary of your work history,
education and skills. You should also send a covering letter, supporting your
CV. It will explain why you want the job and why you are the right person for it.
By doing this you have become an applicant. The company’s Human
Resources department will select the most suitable applicants and invite them to
attend an interview.
Notes: In British English, you hire a person for a job that will last only a short
time, but you employ them for a permanent job.
In American English, you always hire people whether it is for a short or
a long period of time.
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involve, employ, vary, identify, apply, advertise, persuade, move, decide,
describe.

відділ кадрів; наймати на роботу; рекламувати; вакансія; агентство з
добору кадрів; людина, яка шукає роботу; переконувати залишити роботу;
обіцянка фінансового заохочення; звертатися з проханням про роботу;
заповнити анкету; резюме; супровідний лист; претендент.
A B
leave position
recruit give back
vary fill in
need resolve
search convince
persuade look for
decide necessity
complete change
return select
post give up

to preserve, general, last, state, low level, to stay.
application form compile
complete
curriculum vitae submit
approve
job description send off
change
vacancy contact
fill
employment agency have
use
88
1. an account of the main aims and tasks of the work done by a particular
employee;
2. an organization that provides information about available jobs and finds
employees for companies;
3. a job or position;
4. a person who is looking for a job;
5. a specialist consultant who searches for high-level executives;
6. a large sum of money or some other financial enticement;
7. a person who asks for a job , usually by answering an advertisement and
attending an interview;
8. a letter sent with a document or goods explaining the contents;
9. an account of a person’s qualifications, interests and work experience,
usually sent with an application;
10. a post to be filled by a new employee;
11. the process of attracting qualified job applicants;
12. a piece of paper on which you must answer questions about yourself when
you apply for a job

1. In the last four months he has … six jobs.
2. Please send a full CV with a … stating your current salary.
3. Twenty … have been invited for interviews.
4. I’ve contacted several …, without any result.
5. She rejected approaches from several … but decided to stay in her present
position as Head of Sales.
6. Several employment agencies have set up a telephone advice line for … .
7. She was promoted when a … came up in their London office.
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8. We received hundreds of … for only 5 positions.
9. All job applicants are required to submit a … .
10. She made a … to repay the loan in a week.
Promise, curriculum vitae, applications, vacancy, jobseekers,
headhunters, employment agencies, applicants, covering letter, applied for.

1. We had over 200 applicants … the sales job.
2. There were lots … applications … the manager’s job.
3. He has already filled … an application form … this job.
4. Please include a covering letter … your job application.
5. We’ll have to advertise … a new secretary.
6. We have a vacancy … a new sales manager.
7. A new post was created … the advertising department.
8. Recruitment is the process … employing new people.
9. Please send your application, including a CV, … the address below.
10. The new chief … IBM picked … $ 5 million “golden hello”.
(up, to, for (5), of (3), in (2), with)
Ex.9. In the following table there are seven jumbled

recruitment tips. Try to match the correct halves from
columns A and B.
A B
Don't hire until you take the one you would like to work
for.
Make sure you have you are getting no information.
If several applicants are equally good and see what happens.
Remember that when you talk start with How?, When?, Who?, etc.
Try to say nothing are quite sure you need someone.
Ask open-ended questions that demonstrate his or her skills.
Ask an applicant to enough time for the interview.

1. What are personnel departments involved in?
90
2. What does a company do when it identifies a need for new staff?
3. When may headhunters be engaged?
4. What are headhunters’ duties?
5. How may executives be persuaded to move company?
6. What should a jobseeker do if he or she is interested in a particular post?
7. What is a curriculum vitae?
8. What other document should be sent together with a curriculum vitae?

recruitment
jobseekers
jobhunters
golden hello
applicants
Ex.3. Read the following job advertisements. What kind of jobs do

they offer? What skills are essential to the jobs? What are the
duties?
Western bank established in Kiev is looking for:

INTERNAL AUDITOR
Requirements:
 Minimum 2 year experience in Bank’s internal auditing
 Excellent proven organizational, communication and leadership skills
 Fluent oral and written English
 Proven knowledge of TAX and NBU regulations
Responsibilities:
 Execution of all auditing activities in accordance with guidelines
 Examination in form and in fact of all Bank’s transactions in all business
units
 Preparation of recommendations in the course of audit performed
For confidential consideration, please fax CV to
Human Resources Department, fax 2303391
91
Our Client is a great Company to work for and there’s simply nowhere else
like it to built your career
Excellent Career Opportunity for talented, internationally minded people to
develop in the Brand Marketing field.
BRAND EXECUTIVE
Working for our client means being part of a dynamic, exciting and
challenging business.
THE PERSON:
You will probably be aged between 22-26, have a relevant University
degree, fluent English and excellent PC skills. 1 + years of working experience
in an international environment on a junior position within the marketing
department would be essential. In order to succeed in this role, the candidate
must be able to demonstrate an interest in and awareness of product
development, trade and consumer insights. Excellent communication and
interpersonal skills are principally required. You will have to demonstrate your
commercial and creative thinking.
If you are interested, please apply in writing with a full Curriculum
Vitae (Resume) in English and a covering letter.
Ex.4. Imagine that you are interested in applying for one of these 2
above-mentioned jobs. Write a letter to the employer in which
you:
 introduce yourself
 say why you think you would be suitable
 ask for more information about the job
Ex.5. Read an example and write down your own CV/resume:
OLENA BONDARENKO
Personal details
Address: Blvd. Shevchenko, 12, Kyiv, Ukraine, 03004

Tel.: 221-14-51
92
Nationality: Ukrainian
Date of birth: 4 April 1982
Education
1999 – to date Kyiv National University of Trade and Economics.

Major: Marketing
2000 UCE Business School, Birmingham, Great Britain.
Took courses in Business Administration, Political
Science, etc.
1989-1999 Secondary School No.57 with English Specialization,
Kyiv
Work experience
2001 – to date Eximbank. The work includes some secretary duties and
assistance in translation business correspondence.
Skills
 fluent oral and written English
 speak German
 excellent PC skills
 driving licence
Interests
 member of university basketball team
 keen interest in Greenpeace
References
Available on request
Grammar Revision
Future time
1. a) Will is used:
 for future facts
Our boss will celebrate his 50th anniversary this Sunday.
93
 to make predictions based on a personal opinion
The company won't survive this crisis.
 to make requests and offers
Will you help me to do the translation?
Don’t worry, I’ll help you with whatever needs doing.
 with promises, threats, refusals
I promise I’ll be there on time.
Our shop won’t give you your money back.
 for decisions made at the time of speaking
I know, I’ll get him a wallet for his birthday.
b) Shall is used in the interrogative form with
I and We to ask for and make suggestions or offers.
Shall we go to the Chinese restaurant?
I’ll make you a cup of tea, shall I?
2. Be going to is used:
 to express plans or intentions
I’m going to do lots of work tonight.
 To make or ask for predictions in response to something which exists in the
present situation
Look, that child is going to fall if she’s not careful!
3. Present Continuous is used:
 To talk about events which are arranged for the future/fixed plans in the
future
We’re not having the party on Sunday now, I’m afraid.
4. Present Simple is used with future meaning when talking about timetables
or programs of events
The train arrives at 4.15.

1. This lesson ends/will end at 2 o’clock.
2. I’ll go/I’m going to go shopping this afternoon. Can I get you anything?
3. I’ll start/I’m going to start a new job next Monday.
4. I doubt he will apply/applies for this job.
5. Will you help/are you helping me to complete the application form?
6. I think I am going/I’ll go to London soon.
7. We are presenting/will present the new company structure next week.
8. When does the new shop open? It will open/opens officially on 1st
September.
9. What am I going to do/shall I do if he is late?
10. Will you do/Are you doing anything on Sunday? We will go/are going
shopping.
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11. Don't worry about meeting. I support/will support you.
12. – I insist on seeing the manager.
– O.K., Sir. I am going/will go and call her.
Ex.2. Complete these sentences using the correct form to express future
meaning of the verbs in brackets.
1. I ______ to Paris next week if I buy a ticket. (fly)
2. I _____ you the money tomorrow. (give)
3. Next winter holidays, I ______ with my granny in the village. (stay)
4. Have you heard the news? The company _____ to London. (move)
5. I ______ to the general manager on Monday. (go)
6. Our business trip starts tomorrow. We ______ at 10. (leave)
7. Next summer I ______ a week in the Crimea. (spend)
8. What time ______ the lecture _____? (begin)
9. I’m sure she _____ the job. She has a lot of experience. (get)
10. According to the timetable the bus _____ at 8.00. (arrive)
11. All the hotels are full. Where _____ we _____ the night? (spend)
12. I don’t think you _____ any problems at the airport. (have)
13. Our company _____ its 10th anniversary next year. (celebrate)
14. I think I ______ a promotion this spring. (get)
15. I _____ my bank manager tomorrow morning. (meet)
16. The football match ______ at 6 o’clock on Sunday. (start)
17. Look out! The ladder ______ . (fall)
18. He ____ to buy new furniture this year. (plan)

 How important are the following factors when choosing a career?
Money; job security; prospects; social aspects; status; opportunities for
travel, training.
 What makes a good employee?
 What personal qualities would you look for in recruiting and selecting new
employees/ a human resources manager?
Determined, flexible, open, ruthless, sensitive, single minded, with a good
sense of humour, sociable, talkative, sympathetic, team worker, friendly, hostile,
motivating, supportive, resentful, respecting, arrogant, biased …
95
Ex.2. Discuss with your groupmates which is the best way to recruit
staff. Talk about the advantages and disadvantages of each of
the following as a way of selecting people:
 application form
 references
 interview
 trial period
 personality test
Ex.3. “Work is by no means the most important thing in life.” Do you

agree with this statement?
Ex.4. Express your opinion of the following.

1. Recruitment of personnel is a critical task because newcomers tend to break a
lot of tools and devices they are not familiar with.
2. It is necessary to hire new personnel with a good mix of skills because not
everything can be learnt on the job.
3. Hiring new staff is expensive because it is connected with costs of
recruitment, costs of training and so on.
4. Recruiting managers from the ranks of the existing staff is most effective and
economical.
5. Making a quick decision to hire a person is always cheaper than using the
services of an expensive headhunter.

1. This book is selling like hot cakes.
2. I’m sorry I missed the appointment, it must have slipped my mind.
3. A bad management decision spelt disaster for the company.
4. He is very secretive, it’s difficult trying to worm information out of him.
5. My boss’s joke really got me into deep water.

“The employer generally gets the employees he deserves.”
(Anonymous)
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LESSON 4
Text: Interviewing
Grammar: Future time (Future Continuous,
Future Perfect)
interviewee  особа, яка дає інтерв’ю; запрошений

на співбесіду
interviewer  інтерв’юер
reference  рекомендація
accept the job offer  приймати пропозицію про роботу
turn down the job offer  відхиляти пропозицію про роботу
appoint (v)  призначати, затверджувати (на
посаду)
sign (v)  підписувати
employment contract  трудовий контракт
working conditions  умови праці
salary  заробітна платня
in advance  заздалегідь
research (v)  вивчати, досліджувати
implement (v)  виконувати, здійснювати
relocate (v)  переміщати, переселяти
training course  курс навчання
strengths  сильні сторони
weakness  недолік, уразливе місце
Interviewing
An interview is a formal meeting between a candidate and people from

the company. In this situation, the candidate is the interviewee and the
representatives of the company are the interviewers. After an interview, the
interviewers will follow up the references of promising candidates. To do this
they ask for a letter about the candidate from a previous employer (or a tutor, in
the case of a recent graduate). Once this process has been completed, the
interviewers need to select the best candidate for the job and offer him or her the
post. The candidate will then accept, or turn down the job offer.
When the person has been officially appointed (given the job), an
employment contract is signed, agreeing the working conditions and salary.
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If you are an interviewee you should do the following in advance:
 research the organization
 read the job description carefully
 think about the questions you may be asked, and plan your responses
 be ready to talk about your career, both past and future
 be prepared to explain why you think you are suitable for the job
Below are some questions that are frequently asked in job interviews:
 Why do you seek a job with this company?
 What information do you have about our company?
 What do you think you can bring to this job?
 What changes would you implement if you got this job?
 How would you feel about relocating to another city (working in a very small
team? training courses?)
 Could you tell us something about your responsibilities in your last job?
(about your experience of dealing with difficult client? about your long term
goals?)
 What would you say are your strengths/weaknesses?
 What do you see yourself doing in 5 years?
 How do you see yourself developing personally?

interview, represent, refer, complete, select, accept, appoint, sign, agree,
explain, implement.

офіційна зустріч; особа, яка дає інтерв’ю; представники компанії;
рекомендації; перспективний кандидат; відібрати кращих кандидатів;
запропонувати посаду; прийняти/відхилити пропозицію про роботу;
підписати трудовий контракт; узгодити умови праці та заробітну платню;
кар’єра; досвід спілкування з "важким" клієнтом; довгострокові цілі;
роботодавець.
A B
formal duty
turn down put into action
appoint move to a new place
98
conditions answer
salary attentively
carefully payment
response terms
relocate designate
implement reject
responsibility official

interviewee, formal, to accept, to dismiss, strengths, inattentively.
in the right hand column
increase
reference earn
cancel
salary make
supply
implement
contract accept
turn down
job offer break
negotiate
consider
1. a meeting at which a person applying for a job, is asked questions about

his/her work, experience, interests to see if he/she is suitable;
2. a person who is interviewed, esp. for a job;
3. a person who carries out an interview;
99
4. a written report on a job applicant’s character or ability to do the job;
5. a legal agreement made between an employer and an employee, giving
details of salary, hours of work, holidays, etc;
6. a regular fixed payment for work or services;
7. a person offering to take up a post or job.

1. The … will last for about 40 minutes.
2. Have you … the job offer?
3. Why did you … the job offer in that prosperous firm?
4. In her early twenties, she was … head of Public Relations.
5. The … asked him some awkward questions.
6. The starting … is € 15 000 per year.
7. The Personnel Manager went through … with each new employee to make
sure that it was fully understood before signing.
8. My former boss said that I could use him as a ….
9. She was … to the post of sales director.
10. Finance is not one of her … .
Strengths, reference, the contract of employment, salary,

interviewer, appointed (2), turn down, accepted, interview.

Interviews
The employment interview is perhaps the most widely used selection
technique. Job candidates are usually interviewed … at least one member … the
HRM staff and … the person … whom they will be working. Candidates …
higher-level jobs may also meet … a department head or vice president.
Interviews provide an opportunity … the applicant and the firm to learn
more … each other. The candidate has a chance to find … more … the job and
the people … whom he or she would be working.
(by (2), of, for (3), with (2), about (2), out)

power – strength
power – the authority and ability to do something important
strength – the energy that someone has to lift or move things; the ability
to achieve something, even in a difficult situation
100
above. Make sentences of your own to show that you understand the
1. The president has enormous … to make decisions.
2. I don’t have the … to move that table alone.
3. She has the … to help us with our problems.
4. We have the … to stop the deal at any time.
5. The illness has left her with very little … .
6. The British royal family has very little … these days.
7. She has a very … character.
8. He made a … speech asking the government to take measures.
9. As a manager, she has the … to hire employees.
10. We need someone who has the inner … to take on a difficult job.
Ex.1. Answer the following question:

1. What is a job interview?
2. Who interviews the candidates?
3. What will the interviewers follow up after the interview?
4. What document is signed when the person has been officially appointed?
5. What does an employment contract agree?
6. What should an interviewee do in advance?
7. Have you applied for any jobs?
8. Have you been interviewed? How did it go?
9. What's the usual process for getting your first job in Ukraine?

 interviewees and interviewers
 an employment contract
 job interviews
Grammar Revision
Future Continuous, Future Perfect

We use the Future Continuous to talk about:
 actions or events that will be in progress at a specific time in the future
This time next week I’ll be flying to London.
101
 something that will definitely happen in the future, either because it is
already planned or because it is part of a normal routine
We’ll all be using the Internet in ten years’ time.
We use the Future Perfect to talk about actions or events that will be finished
before a certain time in the future
I’ll have written the report by Sunday.

1. I won’t have time to solve this problem tomorrow because I’ll be working/
I’ll have worked all morning.
2. The interviewers will be finishing/will have finished the selection of the best
candidates for this job by 6 o’clock.
3. Don’t come to the office at eight because we won’t have arrived/we won’t be
arriving by then.
4. This time next week I’ll be taking /I’ll have taken my entrance exams.
5. By the time I retire I’ll be working/ I’ll have worked here for thirty years.
6. Will you be using/will you have used your computer this evening?
7. I expect the meeting will be starting/will have started by the time we get to
the conference hall.
8. We won’t have finished/ won’t be finishing this work by the end of the
month.
9. By the time we get to the stadium, the game will be starting/will have started.
10. We’ll have held/we’ll be holding our annual meeting soon, so we can make
a decision then.
11. We will make/will have made the last payment by the end of the month?
12. This time next week I'll attend/I'll be attending a seminar in London.
Ex.2. Complete these sentences using the correct form to express future
meaning of the verbs in brackets.
1. Wait for me. I … ready in a moment. (be)
2. In ten years time I expect I … in this company. (work)
3. By the time we reach office, the rain …. (stop)
4. He … the employment contract by the end of this week. (sign)
5. The representatives of the company … my friend from 3 to 5 tomorrow.
(interview)
6. I’ll give him your message. I can do it easily because I … him tomorrow.
(see)
7. This time next Sunday I … in a London cafe reading a newspaper. (sit)
8. I … this article by tomorrow morning. (finish)
9. By next summer the company … new offices in Kyiv. (open)
10. By the end of the month 2, 000 visitors … this exhibition. (see)
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11. By the end of the year the company … all our debts. (pay off)
12. You … to your boss at the meeting tomorrow? (speak)
13. I wonder what I … this time next year. (do)
14. – I am going to Netherlands next week.
– You are lucky. The tulips just … out. (come)
Ex.1. Imagine you have to interview a candidate for a vacant position.

Draw up a list of questions you would like to ask each person
applying for this job. After the interview discuss the candidate
with your partner. Would you employ him/her? Why? Why not?
Ex.2.Describe a job that you would or would not like to have and
explain what skills and type of personality are required for it.
Ex.3. Discuss with your groupmates which of the following factors

would be important to consider while choosing a company to
work for:
Size of a company, attitude towards staff, recruitment process, location,

reputation of a company, salary, management structure, working conditions, job
security, career opportunities.
Ex.4. You are a jobseeker and you are interested in a particular post.
How do you imagine your future interview?

1. There is monkey business with tax money going on in this region.
2. We’ve been working for 10 hours and we are tired; let’s call it a day.
3. He makes a killing selling umbrellas when it rains.
4. The advertising agency won’t accept cheques any more, only hard cash.
5. I got the news at first hand, so I know it’s true.
Ex.6. Comment on the following proverbs and sayings. Do they have

equivalents in Ukrainian? Think of situations where you could
use them.
Pride comes before a fall.
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People who live in glass houses shouldn’t throw stones.
Ex.7. Read the joke:

THE JOB
A woman was being interviewed for a job. “You understand that before we can
offer you position, you must take a short test.”
“Of course,” she answered
“Well, how much is two plus two.”
“Four.”
A second applicant entered the room. After a short interview, the recruiter
asked,” Are you ready for the test?”
“Yes.”
“Well, how much is two plus two?”
The applicant answered, “whatever the boss says it is.”
The second applicant got the job.
LESSON 5
Text: Executive Pay
Grammar: When and if sentences
interest  процентний прибуток; відсоток;

частка (в чомусь); інтерес,
зацікавленість
rent on properties  дохід від нерухомого майна
income  прибуток; дохід; заробіток
annual salary  річний оклад (службовців)
wages  заробітна платня (робітників)
remuneration  винагорода; оплата; компенсація
commission  комісійна винагорода, комісійні
amount  кількість, загальна сума
fee  гонорар; винагорода; плата
compensation package  загальна сума оплати праці
bonus  премія
fringe benefits/perks  додаткові пільги
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generous  щедрий,; великий; значний
benefits package  пакет пільг
medical insurance  медична страховка
pension plan  програма пенсійного забезпечення
share option  опціон на акції (пільга, яку іноді
отримують працівники компанії. Вона
надає їм право купувати акції
компанії зі знижкою по відношенню
до ринкової ціни.
contribute to (v)  робити внесок; сприяти (чомусь)
at an advantageous price  за вигідною ціною
golden goodbye/golden  золоте прощання /золотий парашут
handshake/golden parachute (велика компенсаційна сума грошей
та різні привілеї посадовій особі, що
іде у відставку; велика одноразова
виплата директору, менеджеру, що
йдуть у відставку, або працівнику,
який залишає компанію)
Executive Pay
For their regular job performance, people get their pay in accordance with
employment contract.
Pay is seen as one of the most important forces in motivating the
workforce.
The money a person receives, including salary, dividends, interest and
rent on properties is called income. White-collar workers and professionals
usually get a salary which is paid monthly, while blue-collar workers receive a
weekly payment called wages.
Remuneration is a general term meaning “payment for work”. In some
jobs (in sales for example), the employee receives a commission, which is a
percentage of the amount he or she has sold. A fee is money paid for the
professional services of people such as lawyers or consultants.
Benefits add to the value of job. Apart from salary, an executive’s
compensation package can include bonuses and fringe benefits or perks.
Many companies operate a bonus system for white-collar and blue-collar
workers. Bonuses (extra payments) are usually paid against certain work done.
Fringe benefits or perks are extras received by an employee in addition
to wages or salary. In managerial position these are usually generous, and are
negotiated when a job offer is being made.
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A benefits package may include: a company pension scheme, private
medical insurance, company car, share options. A company pension scheme is
a private pension plan which the employer contributes to. Share options give
the employee the chance to buy shares in the company at an advantageous price.
There is also a compensation package for an executive leaving a
company. It is also known as a golden goodbye, golden handshake or golden
parachute.

pay, remunerate, mean, employ, serve, consult, add, negotiate, insure,
contribute, compensate.

дивіденди, процентний прибуток, дохід від нерухомого майна, на
робочому місці, службовець, річний оклад, робітник, заробітна плата
робітників і службовців, комісійні, гонорар, професійні послуги, юрист,
консультант, значні додаткові пільги, пакет пільг, медична страховка,
купувати акції за вигідною ціною, опціон на акції, премія, програма
пенсійного забезпечення.
similar meaning.
A B
receive earnings
motivate obtain
pay stimulate
income big
compensation payment
perquisite reimbursement
share perk
generous stock
Ex.4. Match the nouns in the left hand column with the
adjectives in the right hand column.
regular
wages annual
high
low
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payment net
weekly
monthly
income quarterly
controlling
absolute
interest life
taxable
poor
remuneration generous
guaranteed
perks fair
basic
incentive
Ex.5. The words in the box frequently occur after “pay”:

1. the day when an employee receives his/her wages or salary;
2. an envelope containing money earned by an employee;
3. a salary or wage given in a check;
4. a public telephone that you put money in to use;
5. a list of all the people employed by a company, and the amount of money
paid to each of them;
6. a cashier;
7. a piece of paper you get from your employer when you are paid, showing
how much money you have earned and how much tax has been taken away.
Ex.6. Match the synonymous expressions:

1. social security a. pay packet
2. wage packet b. clerical work
3. office job c. social welfare
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4. health services d. jobless people
5. unemployed people e. medical care
1. a percentage paid on amount of money;

2. money (in the form of wages or a salary or profit) received from work done;
3. payment for services given;
4. a payment made to someone for providing a service or goods. The amount is
usually a percentage of the total value of the deal;
5. an amount paid for a professional service or advice;
6. money or goods received in addition to a salary;
7. a combination of salary and benefits that an employer offers to an employee;
8. a right offered to employees, to buy shares in the company where they work
at a cheap price;
9. a compensation package for an executive leaving a company;
10. a sum of money paid to shareholders as their part of the company’s profit;
11. a person who provides advice for pay;

1. Will you accept € 100 as … for the work?
2. She is much better off since her … increase.
3. These shares should pay high … .
4. These gas shares earn a lot of … .
5. She receives excellent … for her work.
6. The bank charges … for exchanging foreign currency.
7. How much is your lawyer’s …?
8. He was offered a company car as … .
9. … we consider most important are non-contributory pensions, company cars
and healthcare.
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10. A € 750,000 … to Mr. Brown, 68, retiring chairman of the tobacco company
was pushed through at the company’s annual meeting.
Golden goodbye, the benefits, a perk, fee, a commission,
remuneration, interest, dividends, salary, payment.
Ex.9. Fill in the missing prepositions
Fringe benefit
Fringe benefit is a reward … an employee’s labour which is not based …
money, but which takes an alternative form. Increased holiday entitlement, a
subsidized canteen, free or cut-price products, or private health care insurance,
are examples … such non-financial rewards. It is increasingly recognized that
money is only one element that motivates the workforce, so the use …
nonmonetary incentives is becoming more common, … shop-floor level, trade
unions are increasingly including non-financial elements … their negotiations
… management. … management level, the “perks” … company cars, sizeable
expense accounts … travelling, and other nonsalary incentives, are an important
element … attracting executives … one post … another.
(to, in (2), with, at (2), of (3), from, for (2), on)

salary – income – pay – wage
salary – is paid monthly to professional employees
income – money received from work done, or (as interest) from money
invested or (as rent) from property owned
pay – money given to an employee by an employer in return for work
wage – is paid weekly to manual or unskilled workers
1. My friend is going to get a … rise next week.
2. That company pays a good … to its workers.
3. Her … increased when she changed jobs and bought stock.
4. Her husband is a lawyer. His … has increased 10 percent this year.
5. The starting … of our new sales manager is € 15 000.
6. Tax is payable on all … over € 2000.
7. … are paid every Friday.
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8. His … is about € 150 a week.
9. … is usually paid monthly but … is usually paid weekly.
10. Very few office workers get good … .
11. A person's … falls dramatically on retirement.
12. In many countries workers are paid a legal minimum … .
Ex.11. Consult a dictionary and say whether these expressions refer to

earning a high or a low salary. Translate the sentences into
Ukrainian.
1. I've been an actor for years, earning a crust wherever I can.
2. We are tired of working for peanuts.
3. She is rolling in money.
4. She expects her employees to work for a pittance.
5. I bet he gets a nice fat salary.
6. He knew her family was loaded.
7. He made a fortune from mining.

1. What is seen as one of the most important forces in motivating the
workforce?
2. What is income?
3. What does a whitecollar worker receive for his/her work?
4. What does a bluecollar worker receive for his/her work?
5. Where do employees receive a commission?
6. What is a fee paid for?
7. What are fringe benefits?
8. What may a benefits package include?
9. What is a golden handshake?
10. What are bonuses usually paid for?
Ex.2. Explain the difference between:

 salary and wages;
 income and fringe benefits.

 income,
 bonuses and fringe benefits
 a compensation package for an executive leaving a company
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Grammar Revision
When and If Sentences

1. In sentences involving link words and phrases such as when, before, after,
as soon as, in case, till, until, if, unless the Present Simple Tense (the
Present Perfect Tense – to emphasise the completion of an event) is used,
although this refers to future time.
I’ll give you my phone number in case you get lost.
I’ll give you a ring as soon as I’ve received his telegram.
2. We use:
 if to say that we are not sure whether something will happen.
I’ll see you in October, if I come to Kyiv.
 when to say that we are sure that something will happen
I’ll see you in October when I come to Kyiv.
Ex.1. Put the verbs in brackets into the correct tense (present or future).
1. When he (get) his salary we’ll buy a new TV set.
2. I’ll be ready as soon as you (be).
3. She will be happy when she (hear) this news.
4. I (lend) you my car whenever you want it.
5. My boss will be upset when he (see) how slowly she works.
6. He’ll pay you when he (get) his cheque.
7. As soon as she (learn) English he’ll get her a job.
8. You shouldn’t count on a salary increase before you actually (get) it.
9. The company won’t make any decision till he (arrive) here.
10. By the time he (retire) he will have worked here for 20 years.
11. I (contact) you as goon as I get information.
12. If they (not receive) payment next week they will take legal action against
us.
Ex.2. Put each verb in brackets into a suitable tense. All sentences refer
to future time.
1. As soon as I (get) there, I (write) you a letter.
2. She (buy) that house when she (have) enough money.
3. I (phone) you if I (be) late.
4. I (buy) this company’s shares as soon as the price (come down).
5. The machine (not work) until you (press) that button.
6. I (fly) to Greece after the strike (be) over.
7. We (have) to stay here till the rain (stop).
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8. If I (see) him I (ask) for a rise.
9. As soon as I (hear) from him I (let) you know.
10. Our shop (not give) you your money back if you (not bring) the receipt.
11. If they (close) the factory, a lot of small businesses (suffer).
12. Our sales (fall) when we (put up) prices.

1. Якщо ваша компанія зробить відповідні заходи, то рада директорів
підвищить річний оклад службовців.
2. Як тільки ви продасте цю партію товару, ми виплатимо вам комісійну
винагороду.
3. Після того, як будуть встановлені додаткові пільги, умови праці наших
робітників значно покращаться.
4. Якщо у мене буде можливість, то я придбаю акції цієї компанії за
зниженою ціною.
5. Якщо ви будете працювати в нашій компанії, ви будете мати багато
додаткових пільг.
6. Як тільки директор підвищить йому заробітну платню, він придбає
новий автомобіль.
7. Коли ви одержите медичну страховку, ви зможете легко вирішити свої
проблеми.
8. Якщо цей адвокат зможе нам допомогти, то він отримає високий
гонорар від нашої компанії.
9. Якщо ви будете постійним клієнтом цієї компанії, то ви отримаєте
значні пільги.
10. Якщо ви звернетесь до нашої компанії, то ми надамо вам професійні
послуги.
11. Я зустрінуся з генеральним директором, перш ніж підписати цей
контракт.
12. Він буде задоволений, коли отримає такий пакет пільг.
Ex.1. Discuss with your groupmates what way of being paid is the
most attractive for an executive.
Ex.2. Do you think that employees’ benefits are really necessary? Why?
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Ex.3. Imagine the manager of a firm is interviewing applicants who
have applied for the job of his personal secretary. You are also
being interviewed. Give a conversation between the manager
and yourself.
The manager wants to know: your name, age, address, details of your
education, qualifications, why you are interested in the job, the names of the
people who could send personal references, etc.
You would like to know: what kind of work you will have to do, about
your salary, holidays, fringe benefits and bonuses, a company pension scheme,
working hours, etc.
Ex.4. Speak about the perks you would like to have in order to get
what you want.

1. I hope that, by the time you retire, your son will be old enough to step into
your shoes.
2. Don’t get shirty with me; I didn’t take your book.
3. Now her husband has lost his job, she will be obliged to cut her coat
according to her cloth.
4. He has it together and is doing well in business.
5. All I had to do was to walk up and down the room and smile at the
customers. It was money for jam.

“Patience pays dividends.”
(Anonymous)
LESSON 6
Text: Leaving a job

Grammar: Tense Revision. Progress Test I
resign (v)  іти у відставку; відмовлятися від посади;

складати з себе обов’язки
quit one’s job (v)  залишати роботу; звільнятися; іти у
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відставку
retire (v)  залишати посаду, іти у відставку (на
пенсію), звільнятися
take early retirement (v)  рано піти на пенсію (у відставку)
unemployed  безробітний
closure  закриття, завершення
dismiss (v)  звільняти (з роботи)
dismissal  звільнення з роботи
lay off (v)  припиняти роботу;
амер. звільняти робітників
make redundant (v)  звільнити у зв’язку зі скороченням штату
redundancy  скорочення штатів; звільнення робітників
(службовців)
outplacement  працевлаштування працівників, яких
було звільнено при скороченні штатів
redundancy payment  допомога при звільненні з роботи
(наприклад при скороченні штатів)
fire (v)  амер. звільняти з роботи
terminate (v)  звільняти з роботи
sack (v)  звільняти з роботи
Leaving a Job
There are various ways to leave a job. Some people leave a job voluntary
and some involuntary. A person resigns, or quits his job, when he leaves it
voluntary. At the age of 60 many employees retire, though the retirement age
varies from one country to another. Some employees leave at an earlier age; this
is known as taking early retirement.
Labour market is very flexible. Companies can react quickly to economic
problems. Company reorganization, relocation or closure often result in job
losses. When people lose their jobs, they are dismissed, laid off or made
redundant. These job losses are known as redundancies, dismissals or lay-
offs. An employee who is made redundant or laid off has a right to receive
compensation in the form of a redundancy payment. This is an amount of
money paid out to compensate the employee for the job loss; it is calculated
according to the age, length of service and the salary earned by the employee.
They may also get advice about finding another job, retraining, etc. This is
called outplacement advice.
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When people are made to leave the organization we say that they are
fired, terminated or sacked. For them, finding a new job may be difficult and
as a result they become unemployed.

resign, retire, reorganize, relocate, close, lose, dismiss, pay, vary, form.

залишити роботу за власним бажанням; іти на пенсію; реорганізація
компанії; втрата роботи; скорочення штатів; одержувати допомогу при
звільненні з роботи; компенсувати службовцю втрату роботи; заробляти
гроші; звільняти з роботи (когось); безробітний; реагувати на економічні
проблеми.
A B
resign jobless
vary sack
fire quit (one’s job)
redundancy change
receive sum
salary dismissal
amount obtain
unemployed wages

hire, remain, find, waste, voluntarily, location, receive, closure, early,
react, jobless.
redundancy give
hand in
resignation offer
take
closure suffer
make
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loss face
result in
salary be threatened with
get
the sack increase
reduce
1. a situation in which a worker agrees to give up his/her job;

2. to give up a job or position;
3. to stop work, esp. because of age;
4. the act of bringing something to an end;
5. moving a person or an organization from one place to another;
6. to remove an employee from a job or position;
7. a payment made to an employee as a compensation for the loss of a job;
8. to get money by working;
9. to leave a job at an earlier age;
10. without a job; idle.

1. She decided to take … rather than a cut in pay.
2. She has … from her post as marketing manager.
3. He was asked … when the fraud was discovered.
4. He … from the bank after 30 years service.
5. The usual age of … is 60.
6. The bank clerk was … for dishonesty.
7. Over 500 steel workers face … .
8. A slump in business has led to the … of many factories.
9. The merger will result in … .
10. If he is late again he will get … .
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11. The employee protested against the reason for his … .
12. The company has … a section of its employees.
13. My friend was … from her job yesterday.
Terminated, laid off, dismissal, the sack, relocation, closure, redundancy,

fired, retirement, retired, to resign, resigned, voluntary redundancy.
Ex.8. Divide the words and word combinations in the box into two
columns.
dismissed, laid off, fired, made redundant, sacked, offered early
retirement, terminated
If you've done something wrong, you If you've done nothing wrong, you
are … are …
___________________ ____________________
___________________ ____________________
___________________ ____________________
___________________

Redundancy
Redundancy is the situation that results when an employee’s contract …
employment is ended because that job no longer exists or is no longer needed. A
factory might close …, which would make all the workforce redundant, or, … a
factory, a new machine might make a particular job no longer necessary.
Workers who are made redundant have a right to receive compensation … the
form … a lump-sum payment which varies ... the length … service … the
employee. Many companies … fact negotiate … trade unions to give more than
the minimum legal requirement … compensation, especially if they are asking
… workers to accept voluntary redundancy as opposed … compulsary
redundancy.
(to, down, in (3), within, according to, of (4), with, for)
Exercises in Comprehenson

1. How can a person leave a job?
2. When does a person resign?
3. When does a person retire?
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4. What do we call “early retirement”?
5. What is redundancy?
6. What is a redundancy payment?
7. How is the compensation for the job loss calculated?
8. What do we call "outplacement"?
9. When is a person fired or sacked?
Ex.2. Are these words about starting or finishing a job?

apply, retire, employ, resign, dismiss, hire, make redundant, fire, recruit

 various ways to leave a job;
 resignation and retirement;
 redundancies;
 dismissals.
Grammar Revision
GRAMMAR PROGRESS TEST I

Choose the correct variant.
1. I have not seen my business partner since he … London.
a) has left b) had left c) left
2. I decided to go to my office immediately when I remembered I … the door.
a) didn’t lock b) hadn’t locked c) haven’t locked
3. He has made four presentations since he … in Ukraine.
a) has arrived b) arrived c) had arrived
4. I will be explaining this rule to you until I … you understand it.
a) will see b) shall see c) see
5. You will miss your train unless you … now.
a) leave b) will leave c) do not leave
6. The plane which … from Heathrow at 12.30 is expected to land in 5 minutes.
a) took off b) had taken off c) was taking off
7. He … his annual report at the moment.
a) is preparing b) prepares c) has been
8. It will not be good if you wait till he … about it from your boss.
a) will learn b) learns c) will have learnt
9. Just as I thought, he … our office easily.
a) has found b) had found c) found
10. I knew he … me before so I wondered why he didn’t recognize me.
a) had met b) met c) has met
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11. I do not want to draw any conclusions now. But if he … to persist I will fire
him.
a) continues b) will continue c) continued
12. How did you know that somebody … your computer before you came into
your room?
a) was using b) has been using c) had been using
13. He … this company for several years when I began my career.
a) has been managing b) had been managing c) was managing
14. You will not leave the office before five unless you … everything.
a) will not have finished b) will have finished c) have finished
15. When he arrived in Birmingham in 1999 the English language was not a
problem to him as he … it for five years.
a) have been studying b) had been studying c) was studying
16. He … to solve this problem several times.
a) had tried b) has tried c) was trying
17. By the time you are back we … everything.
a) have done b) do c) will have done
18. If he … his job he will have to leave our city.
a) will lose b) loses c) is losing
19. If you … any problems with our product we will be pleased to help you.
a) had b) have c) will have
20. When … to Ukraine?
a) have they come b) did they come c) they come
21. He … hard, that is why he is tired.
a) had worked b) worked c) has worked
22. He … to his personal stereo so he couldn’t hear your words.
a) listens b) was listening c) had listened
23. While I … my best to solve your problem you were discussing some
unimportant matter.
a) have been doing b) was doing c) did
24. Our company … this product since 2000.
a) has been producing b) had produced c) produces
25. We … a letter from our business partner.
a) have just received b) just received c) had just received
26. I … € 800 so far.
a) earned b) have earned c) will earn
27. It will be difficult for you to find a new job if you … .
a) will be fired b) are fired c) fired
28. Do not believe him! He … a lie.
a) tells b) is telling c) told
29. It is the fourth time his law firm … part in the Employment Fair.
a) took b) has taken c) had taken
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30. Brown&Partners … the firm now and need to hire secretaries and lawyers.
a) expand b) are expanding c) expanded
Ex.1. Discuss with your groupmates the possibility of taking early

retirement. Which in your opinion is the best retirement age?
Ex.2. Do you think that a redundancy payment can compensate job

loss? If you were a manager of a big company would you try to
do your best not to make your employees redundant?
Ex.3. Study the following notice. Discuss with your groupmates the
reasons which will force you to fire your employee.
Notice
These are the only ways that you can lose your job at this company:
 Employees who steal will be terminated.
 Anyone who contradicts the boss will be sacked.
 Salespeople who don’t meet their targets will be fired.
 When business is bad, the laziest workers will be laid off.
 If the company goes bankrupt, everyone will be made redundant.
 If you don’t like any of these rules, you’re free to resign and find another job.
 But if nothing goes wrong, you have a job for life and you can retire happily
at the age of sixty.
(From D. Evans. Business English Verbs, Penguin Quick Guides)

1. Harry got the sack for taking time off without permission.
2. They were firing off questions at me from all sides.
3. Don’t worry if we have to close the shop. I have other irons in the fire.
4. Martin should have resigned his office this year, but he is staying on an extra
year to keep the seat warm for you.
5. I have tried to reorganize the company, but it’s hopeless. The game isn’t
worth the candle.
Ex.5. Speak on the problem of unemployment and its effect on people.
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“If a man doesn’t make new acquaintances as he advances through life, he will
soon find himself left alone.”
(S. Johnson)
TEST 2 (UNIT II)

1. A sum of money given in addition to a salary.
a) bonus b) wages c) motivation
2. To tell an employee that he/she must leave his/her job.
a) to hire b) to employ c) to sack
3. A sum of money paid for professional or special services.
a) wages b) fee c) salary
4. Money or other benefits given in addition to a salary.
a) compensation b) incentive c) wages
5. A monthly payment in exchange for work.
a) interest b) salary c) dividend
6. To give employment to someone.

a) to estimate b) to promote c) to hire
7. A person or company that provides job.
a) employee b) employer c) businessman
8. The process of interviewing and choosing people to do a job.
a) recruitment b) description c) evaluation
9. A list of all the people employed by a company, and the amount of money paid to each of them.
a) pay-day b) payroll c) pay master
10. A person who is looking for a job.
a) applicant b) jobseeker c) headhunter
11. A post to be filled by a new employee.
a) job description b) vacancy c) employment
12. Money (in the form of wages or a salary or profit) received from work done.
a) dividend b) interest c) income
13. A right offered to employees, to buy shares in the company where they work at a cheap price.
a) bonus b) share option c) fringe benefit
14. A person who provides advice for pay.
a) consultant b) co-worker c) executive
15. A compensation package for an executive leaving a company.
a) golden hello b) golden parachute c) golden rule
16. To stop work, esp. because of age.
a) to fire b) to hire c) to retire
17. To get money by working.
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a) to resign b) to earn c) to save
18. A payment made to an employee as a compensation for the loss of a job.
a) golden good-buy b) remuneration c) redundancy payment
19. Examining how much money a job is worth and how much the person doing it should be paid.
a) job analysis b) job evaluation c) job security
20. A person who buys something from a shop, pays for a service or orders
something from a company.
a) supplier b) customer c) consumer
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UNIT III PRODUCTS, MARKETS AND MARKETING
LESSON 1
Text: Customers, Consumers and Clients

Grammar: The Passive Voice (Simple)
customer  покупець товару чи послуги,

клієнт, замовник
consumer  споживач
resale  перепродаж
safeguard (v)  гарантувати (щось), охороняти
consumer protection  захист споживача
emerge (v)  з’являтися, виникати
pass a law (v)  приймати закон
consumerism  консюмеризм (рух на захист прав
споживача)
protect (v)  захищати
investigate (v)  досліджувати, вивчати
consumer taste  смак споживача
safety  безпека
market research  вивчення (можливостей) ринку;
дослідження ринку
client  клієнт, замовник, покупець
професійної послуги
accountant  бухгалтер
advertising agency  рекламна агенція
Customers, Consumers, and Clients
There are different ways to talk about people who buy things.
Customers are individuals or organizations who buy things from other
individuals, shops or organizations, pay for a service or order something from a
company.
Consumers are people who buy goods and services for their own use or
consumption and not for resale. Consumers are now recognized as an important
group – the government has passed laws to safeguard the interests of the
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consumer. An organized movement (consumerism) for consumer protection
has emerged in the last 40 years.
Consumerism consists of all those activities that are undertaken to
protect the rights of consumers in their dealings with business. There exist four
basic rights of consumers: the right to safety, the right to be informed, the right
to choose and the right to be heard. Manufacturers investigate consumer tastes
using market research.
Clients are individuals or organizations who pay for services provided by
a professional person or organization such as a lawyer, an accountant, a bank,
advertising agency, etc.
A business may refer to its customers as its customer base or client base.

consumer, protection, investigation, service, recognition, activity,
manufacturer, choice, movement, customer.

покупець, споживач, платити за послугу, споживання, перепродаж,
приймати закон, охороняти інтереси споживача, захист прав споживача,
смаки споживача, дослідження ринку, клієнт, бухгалтер, рекламна агенція.
similar meaning.
A B
customer end user
consumer producer
protect study
activity purchase
manufacturer buyer
investigate action
choose safeguard
buy select
Ex.4. Find suitable opposites to the following words:

similar, to sell, to reject, idleness, insignificant, producer.
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Ex.5. Match the nouns in the left hand column with the nouns
in the right hand column and translate them into
Ukrainian:
choice
consumer
industry
customer products
protection
spending
taste
service
mix
base
Ex.6. The words in the box frequently occur after “consumer”.

1. loans made to the public by banks, shops and businesses for the purchase of
everyday items;
2. articles necessary for daily living, such as food, clothes, and everyday things;
3. the average cost, published monthly, of a group of consumer goods, such as
bread, milk, chicken, etc. in comparison to their past cost;
4. goods such as cars, furniture, refrigerators, televisions, etc. that last for a long
time;
5. the situation of buying and selling goods for personal use, not for resale;
6. goods such as foods, drinks, newspapers, etc. that have a short life and need
to be replaced often;
7. a period when consumers are spending a lot.
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1. a person or business who buys something from another person or business;

2. a person who buys and uses goods and services;
3. a customer of someone who provides a professional service;
4. an organized movement for consumer protection;
5. a sale of something again;
6. the condition of being free or protected from harm;
7. the study of what products and services customers might like to buy;
8. action taken against harm or loss, a defense.

1. … have the right to return faulty goods and demand a refund from the
supplier.
2. Prices of … goods have risen by an average of 3% in the last 3 month.
3. A good hairdresser never lacks … .
4. Please serve the next … before answering the phone.
5. … of alcohol in that country is high.
6. The government … new legislation concerning health and safety in factories.
7. The Consumers’ Association … the rights of the consumer.
8. We made money on … of our house.
9. My … prepares my tax returns every year.
10. … helped us design our products to sell better.
11. She has good … in clothes.
12. We … various towns before we decided where to buy a house.
investigated, taste, market research, the resale, accountant,

safeguards, has passed, the consumption, customer, clients, consumer,
consumers.

Consumer Protection
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Consumer protection means safeguarding the interests … the consumer.
… the growth … the number … products … offer, and the size … the
companies producing and selling them, it has become much more difficult …
consumers to protect their own interests. Thus a movement … consumer
protection has emerged … the last 40 years … the developed countries. The
areas where consumer protection has been seen as most important have been the
way goods and services have been described, labelled and advertised; the quality
and safety … goods, buying … credit and guarantees.
(on (2), in (3), for (2), of (4), with)

1. What do we call people who buy things from other individuals or shops, pay
for service or order something from a company?
2. Who are consumers?
3. What movement has emerged in the last 40 years?
4. What are the four basic rights of consumers?
5. Who investigates consumer tastes and with what purpose?
6. Whom do we call “clients”?
7. Do you think that it is necessary to protect the rights of the consumers?

customers – consumers – clients

 customers
 consumers and consumerism
 clients
Grammar Revision
The Passive Voice (Simple)

1. a) We use the Passive Voice in three main ways:
 to describe a process
 when the action is more important than who does it:
The computer was repaired in 3 hours.
 when we do not know, or do not want to say, who does the action:
The letter was received a week ago.
b) The agent (by …) is only used when it includes important information:
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America was discovered by Columbus in 1492.
c) When you want to mention what the agent used in order to carry out an
action, you use “with”.
The letter was written with my pen.
2. Form be +Past Participle
Simple
Present the letters are written
Past the letters were written
Future the letters will be written
Ex.1. Change the following from active to passive.

1. The company manager increased my salary last week.
2. We bought this car last Friday.
3. He paid for this service in cash.
4. We seldom undertake such activities to protect the consumers’ rights.
5. We informed the customer of the delivery of his order.
6. The company increased the commission paid to agents.
7. Human Resources department recruits new staff every year.
8. Research and Development department developed several new products last
year.
9. My company opened several subsidiaries in different locations.
10. Manufactures investigate consumer tastes.
11. Ford announced the loss of 4,000 jobs yesterday.
12. British Airlines forbids smoking during the flight.
Ex.2. Complete the sentences using the correct passive (simple) form of
the verbs in brackets.
1. He (not invite) to the conference if he doesn’t present a report.
2. I (not pay) enough for the work I do.
3. A security system (install) in this laboratory next week.
4. Newspapers (deliver) every day except weekends.
5. The problem (solve) by the committee a week ago.
6. Taxes (reduce) in a few years.
7. The office (wash) every day.
8. The delegation (meet) at the airport.
9. Our working conditions (change) by new equipment.
10. The most important decisions usually (take) by the owners of a company.
11. Services in tourism (provide) by tourist companies.
12. When a private company (buy) by the state and (bring) into public sector, it
is nationalized.
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1. Коло послуг нашої компанії було розширене минулого року.
2. Ці товари завжди купуються для перепродажу.
3. Права споживача захищаються державою.
4. Цей закон про захист прав споживачів був прийнятий кілька років тому.
5. Ця інформація завжди розповсюджується рекламними агенціями.
6. Смаки споживачів будуть досліджуватися нашим маркетинговим
відділом.
7. Клієнтам нашого банку будуть запропоновані значні знижки.
8. Побутові послуги сплачуються за допомогою пластикової картки.
9. Декілька працівників нашої фірми було звільнено за обман покупців.
10. Ми не можемо повірити вашим словам, оскільки всі ваші вимоги були
задоволені.
11. Спільне підприємство було створено своєчасно і зараз ми маємо
великий прибуток.
12. Проект будівництва цього готелю був затверджений ще в 2000 році.
Ex.1. Speak about different ways of talking about people who buy
things.
Ex.2. Think of situations where it is necessary to protect the rights of a

consumer and discuss them with your groupmates.

1. Don’t believe him! He is a slippery customer.
2. I don’t want to go to law, but I shall have to if he doesn’t offer me fair
compensation.
3. When you are being interviewed for a job, you must weigh your words
before answering the questions they put to you.
4. Don’t waste words on that man; he isn’t interested in our complaint.
5. The losses you made on the Stock Exchange last year should have taught
you a lesson.
Ex.4. Comment on:

“Do not fear when your enemies criticize you. Beware when they
applaud.”
(Vo Dong Giang)
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LESSON 2
Text: Markets and Market Orientation

Grammar: The Passive Voice (Continuous)
commodity market  товарний ринок

target market  цільовий ринок
indication  ознака, свідчення; показник
market share  частка ринку
market leader  компанія, яка займає провідне
становище на ринку
market segment  сегмент ринку
market niche  ринкова ніша, невеликий сегмент
ринку для збуту певного товару
dominate (v)  заволодівати, цілком поглинати;
панувати, володарювати
marketer/marketeer  діяч ринку, спеціаліст, продавець
respond (v)  відповідати; реагувати,
відгукуватися (на щось)
market-driven/market-  з ринковою орієнтацією
led/market-oriented
approach  підхід
desire  бажання; прагнення; побажання
Market and market orientation
A market for a product is the people or organizations who buy it or may

buy it, or an area where it is sold. There exist different types of markets: street
markets, shops and supermarkets, markets for services (e.g. restaurants),
financial markets, commodity markets (e.g. coffee, tin).
A company’s or product’s target market is a group of consumers a
company aims to sell its products to, for example children, housewives,
fishermen, etc.
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As an indication for the success of a business market share is often used
which is the proportion of sales that a company or a product has in a particular
market. The market leader is the company or product with the biggest share.
A firm usually focuses its attention on a market segment. Market
segment is the part of a market consisting of consumers with similar
characteristics. Ways in which a market might be segmented include age,
income, lifestyle, geographical location.
A market niche is a small, specific segment of the market, often
dominated by small firms selling some kind of goods.
Marketers often talk about market orientation: the fact that everything
they do is designed to meet the needs of the market.
Companies quick to respond to the needs of a market are market-driven,
market-led or market-oriented. A market-oriented approach to developing a
product is one which puts the desires of the consumer at the centre of the
decision about what to produce.
To make decisions about products companies do a market research which
is the collection of information on markets, products and consumers; on what
people need, want, and buy; how and when they buy and why they buy one
thing rather than another.

produce, organize, exist, differ, indicate, characterize, locate, dominate,
decide, collect.
Ex.2. The following words can be used in more than one way.
Underline the correct part of speech for each word as it
is used in the text.
1. market a) noun b) verb
2. aim a) noun b) verb
3. share a) noun b) verb
4. desire a) noun b) verb
5. produce a) noun b) verb
6. research a) noun b) verb
7. segment a) noun b) verb
8. need a) noun b) verb
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товарний ринок, цільовий ринок, група споживачів, фінансовий
ринок, частка ринку, сегмент ринку, прибуток, ринкова ніша, ринковий
підхід, створювати продукт, ринкова орієнтація.
Ex. 4. Match words from list A with words from list B that have a
similar meaning:
A B
share output
respond target
market-driven homemaker
income sign
desire reply
indication wish
housewife earnings
aim market-led
product segment

failure, part, whole, slow, general.
Ex.6. Fill in suitable nouns to form two-word expressions. Translate

these expressions into Ukrainian.
1. ________ orientation
2. ________ share
3. target _________
4. ________ segment
5. commodity _______
6. _________ niche
7. free ____________
8. ________ economy
9. ________ price
10. ________ reform
Ex.7. Match the word combinations in the left hand column

with the verbs in the right hand column and translate
them into Ukrainian:
market leader increase
lose
market price carry out
do
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market research charge
pay
market share become
remain
Ex.8. The words in the box frequently occur after “market”.

1. the company that sells the largest amount of a specific commodity in a
particular area; the brand or make of goods that sells the most;
2. the price of a raw material, product, service, etc. that is charged in a free or
competitive market;
3. study carried out by a company before launching a new product, into the
needs, lifestyles, incomes, etc. of potential buyers;
4. the percentage of the total sales of a certain product in a particular area or
country obtained by one company;
5. that part of a market which consists of consumers with similar characteristics;
6. a pattern or change in buying and selling activities;
7. the act of obtaining a larger market share by increasing advertising,
promotion, etc.
8. an economic system in which individuals and firms are free to enter and
leave markets at will;
9. changes a government makes to an economy, so that it becomes more like a
market economy;
10. the way a market economy makes sellers produce what people want, at
prices they are willing to pay.
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Ex.9. The following diagram shows some very commonly used verbs
with "a market". Study the diagram, consult your dictionary and
translate these phrases into Ukrainian.
to rule
to enter to dominate
to penetrate
to saturate
to flood a market
to drive to corner
a company out to monopolize
of to abandon
to leave
to get out of
Ex.10. Look at the words and phrases in the box. Match the words with
the correct definition from the list below:
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1. a group of consumers for whom a business has designed a product and

marketing strategy;
2. the bond markets, stock markets, etc. that accept money and turn it into
equity instruments;
3. a course of action, a way of handling a situation;
4. to have the most important place or great influence; to have or use power or
command over;
5. a company that produces goods that it knows will sell because buyers have
said that they need them;
6. a large sell-service store offering food and general household items.

1. … helped us design our products to sell better.
2. Sony is … in hi-fi equipment.
3. The computer company has a 25% … .
4. Companies need to produce new products to keep up with … .
5. He was forced to sell below the current … to make a quick sale.
6. A … approach to developing a product is one which puts the desires of the
consumer at the centre of the decision about what to produce.
7. As in many other Japanese industries, … at home, Toyota, is not the strongest
exporter.
8. Gillette … the business in the USA.
9. … is one where things are bought and sold freely and not under government
control.
10. My company has its own …, selling to fishermen and hunters.
11. Women are an important … for Volvo.
a market economy, dominates, market-oriented, market price,

market trends, market share, the market leader (2), market research,
market niche, market segment.

… most consumer goods, producers have become market-oriented …
growth … competition and the increasing knowledge … consumers … what is
available.
Products, such as cookers, cars, televisions, have to be attractive … the
customer to sell … competitors as all the products now perform their basic
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functions … a similar way. Service industries like banking and insurance have
also become more market-driven.
(against, to, about, of, in (2), because of, for)

1. What do we call a market for a product?
2. What types of markets do you know?
3. What is a target market?
4. What is a market share?
5. When can the company be called the market leader?
6. What is a market niche?
7. What companies are market-driven?
8. What do companies do a market research for?

 different types of markets
 target market
 market share, market segment, market niche
 market-oriented approach
Grammar Revision
The Passive Voice (Continuous)

Form be + Past Participle
Continuous
Present the letter is being written
Past the letter was being written
Future ----------------------
Ex.1. Complete the sentences using the correct passive (continuous)

form of the verbs in brackets.
1. I can do nothing when I know I (watch).
2. Close the door please, the matter just (discuss).
3. We watched how this information (collect).
4. President’s speech (translate) for the foreign guests.
5. When I came to my native town two years ago, this supermarket still (build).
6. When my father was a worker at this plant this work still (do) by hand.
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7. My car (repair) now.
8. Don’t enter the room. My friend (interview) there.
9. The runways (lengthen) at all the main airports.
10. My proposal just (consider) when I came.
11. My office (redecorate) when I moved there.
12. I couldn’t give you our daily program, it still (work out).
Ex.2. Open the brackets, using the Passive Voice.

1. As I entered the office, I had the feeling that I (watch).
2. A lot of new experiments (make) in my husband’s laboratory now.
3. I am sure a lot of questions (ask) when I finish speaking.
4. This report (send) at once.
5. This money (spend) on market research next year.
6. Service (include) in the bill.
7. Don’t enter without invitation. A very important problem (discuss).
8. The program (work out) many years ago, but it still (use) with great success.
9. When the market (segment) last?
10. Market share often (use) as an indication for the success of a business.
11. The new method (show) to the young specialist today.
12. If we hurry with the work, it (spoil).

1. Контракт саме тоді підписували, коли ми приїхали.
2. Листи зараз друкуються.
3. Про його новий експеримент сьогодні багато говорять, чи не так?
4. Зараз виконується мій улюблений концерт. Послухайте його, будь-
ласка.
5. Він не виявив великого інтересу, коли це питання обговорювалось.
6. Він увійшов до залу в темряві і не одразу зрозумів, який фільм
демонструвався.
7. Я здивований, що його слухають з такою зацікавленістю.
8. Вона відчувала, що на неї дивляться.
9. Сьогодні проводиться дослідження ринку для того, щоб зрозуміти що
потрібно споживачу.
10. Коли я прийшов в супермаркет, там продавалися відеокасети з
фільмами мого улюбленого режисера.
11. Новий проект нині розглядається Радою Директорів.
12. Саме зараз всі замовлення доставляються клієнтам нашим кур’єром.
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Ex.1. Imagine you are setting up your own business. What target
market would you choose? Why?
Ex.2. Discuss with your groupmates the situation in the Ukrainian

consumer markets.
Ex.3. Do you think that Ukraine can be called a market-oriented

country? Prove your point of view.

1. We can ask any price we like for our product; we have a captive market.
2. Once a government has cornered the market, as for instance in gas or
electricity, there is always a huge rise in price.
3. The fees you are charging are so high that you are in danger of pricing
yourself out of the market.
4. The dishonest advertising agencies will spoil the market for the good ones.
5. We are not in the market for diamonds at present.
Ex.5. Comment on:

“Necessity never made a good bargain” (B. Franklin)
LESSON 3
Text: Products, Goods and Services

Grammar: The Passive Voice (Perfect).
Progress Test II (Passive Voice)
product  продукт; виріб; продукція

fast-moving consumer goods  ходові споживчі товари
consumer products  споживчі товари, товари широкого
вжитку
industrial products  товари виробничого призначення
convenience goods  товари повсякденного попиту
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shopping goods  товари попереднього вибору
impulse goods  товари імпульсного попиту

specialty goods  товари особливого попиту,
престижні товари
at the checkout  на виході
white goods  такі товари, як пральні машини,
холодильники
brown goods  такі товари, як телевізори,
високотехнологічне обладнання
merchandise  товар(и)
succeed (v)  досягати успіхів, процвітати
market (a product) (v)  знаходити ринок збуту; продавати
introduce/launch (a product) on  впровадити продукт на ринку
to the market (v)
product life cycle  життєвий цикл товару
withdraw (v)  вилучати; анулювати
money spinner  товар, що дає великі прибутки
cash cow  високоприбутковий товар або
бізнес
loss leader  товар, який продається за
зниженими цінами для того, щоб
приваблювати покупця
persuade (v)  переконувати, схиляти умовляти
profitable  прибутковий, вигідний;
рентабельний
dog  неприбутковий товар, якого треба
позбутися
Products, Goods and Services
The exchanging of products makes the business world.

A product is something that is produced or manufactured and sold, often
in large numbers.
Products are sometimes referred to as goods for example in the expression
fast-moving consumer goods, or FMCG.
Products may be grouped into two general categories: consumer and
industrial. Consumer products are classified as convenience, shopping,
impulse or specialty goods.
Convenience goods are mostly cheap products which people use regularly
and buy frequently with little effort (food, tobacco products).
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Shopping goods are those products that the consumer buys only after
comparing value, quality, and price from a variety of sellers.
Impulse goods are bought on impulse, often at the checkout, and include
products such as chewing gum, cholate bars, magazines, etc.
Specialty goods have an outstanding position in the market; they are
mostly represented by certain brands.
Industrial goods are products used in the production of other products for
resale purposes. These goods include materials, equipment, parts, and services.
We usually call white goods such things as washing machines and
refrigerators and brown goods such things as televisions and hi-fi equipment.
Goods are also referred to as merchandise.
Services are activities such as banking or tourism that contribute to the
economy but which may not directly involve manufacturing. Services may be
referred to informally as products.
For firms to succeed in business, they must continue to develop and
market products.
New products are introduced or launched onto the market. Products
have a life cycle. A product that a company no longer wants to make available is
withdrawn from the market.
A product generating a lot of profit is a money spinner or a cash cow. A
loss leader is a product sold very cheaply in order to attract customers who will
then, it is hoped, be persuaded to buy profitable ones.
A dog is a product that is in a market that is stagnant, shrinking or weak.
Its market share is small or going down.
Ex.1. Form nouns from the following adjectives:

profitable, attractive, consumer, industrial, expressive, active, productive.

ходові споживчі товари, споживчі товари широкого вжитку; товари
виробничого призначення; товари повсякденного попиту; товари
попереднього вибору; товари особливого попиту; знаходити ринок збуту
для товару; життєвий цикл товару; вилучати товар з ринку; впровадити
продукт на ринку; високоприбутковий товар; досягти успіхів в бізнесі,
товари импульсного попиту; неприбутковий товар, якого треба позбутися;
застойний ринок.
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A B
goods beneficial
produce merchandise
profitable manufacture
money spinner appeal to
introduce retract
attract cash cow
persuade launch
withdraw convince

profit, loss leader, to introduce (a product), harmful, slow-moving goods,
to fail.
Ex.5. Match the nouns in the left-hand column with the

adjectives in the right-hand column:
commercial
consumer
goods financial
free
intermediary
services training
welfare
acceptable
advertised
capital
competitive
durable
fancy
impulse
slow-moving
Ex.6. Give synonyms to "Products".

1. M _ _ _ _ _ _ _ _ _ _
2. A _ _ _ _ _ _ _
3. G _ _ _ _
4. I _ _ _ _
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5. C _ _ _ _ _ _ _ _ _ _
Ex.7. The words in the box frequently occur before “goods”.

1. items created to be used in everyday life, e.g. food, clothes, magazines,
bicycles, toys;
2. items such as television sets and radios;
3. items such as refrigerators and washing machines, so called because they are
made of white painted metal;
4. goods such as cars, furniture, refrigerators, televisions, etc. that last for a
fairly long time;
5. expensive items that are bought from choice and not necessity;
6. goods that can be imported, usually in limited quantities, without customs
duties;
7. goods, esp. food, that can go bad or decay quickly;
8. goods that are bought on impulse.
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1. the idea that the sale of a product goes through 4 phases: introduction,
growth, maturity and decline;
2. something that earns a lot of money;
3. a product sold at a loss to encourage trade;
4. bringing in more money than is spent;
5. to take something back;
6. the job that an organization does;
7. to make goods to sell from raw materials;
8. goods for sale;
9. slow-selling goods in stagnant markets.

1. The book could be a real … .
2. Soap, toothpaste, batteries and light bulbs are all … consumer goods.
3. You are welcome to examine … before buying.
4. Shops use … to attract customers.
5. This deal should be highly … .
6. Fashion goods have a short … .
7. These goods were … in France.
8. The popularity of home entertainment will be maintained with sales of …
such as televisions and hi-fi equipment.
9. In Great Britain supermarkets sometimes sell top brands below cost as … .
10. Trained staff is trying … customers to spend far more.
11. Consumers buy a lot of … at Christmas time.
To persuade, brown goods, manufactured, impulse goods,
product life cycle; profitable; loss leaders (2), the merchandise; fast-
moving; money spinner.

to succeed – to manage – to cope
to succeed – to accomplish a task or reach a goal; to do well in life
to manage – to struggle but succeed at doing something
to cope – to face difficulties and try to overcome them.
1. She has … in business and is now a millionaire.
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2. The test was difficult but he … to do well.
3. He … to carry the heavy suitcase into the house alone.
4. He … with the pain and finally got well again.
5. Unfortunately I didn’t … to pass the exam.
6. Not many of us … in achieving our ambitions.
7. If her business … she will become a rich woman.
8. He … in passing his final exam.
9. He can’t … with this difficult task, so he is going to ask you to help him.
10. She … to achieve good results in a short space of time.

1. What makes the business world?
2. How can a product be characterized?
3. What two general categories may products be grouped into?
4. What do we call such things as washing machines and refrigerators?
5. Can brown goods be also referred to as merchandise?
6. What are services?
7. If a product generates a lot of profit is it a money spinner or a loss leader?
8. What purposes is a loss leader used for?
9. Why must firms introduce new products?
Ex.2. Find in the text the correct term for the definition and write it in
the space provided.
1. Products called ______ are products that consumers want to purchase
frequently with a minimum of effort.
2. Products that have a special attraction to consumers who are willing to go out
of their way to obtain them are called ______ .
3. Products known as _______ are products that consumers are unaware of,
haven't necessarily thought of buying.
4. Consumers buy _______ only after comparing value, quality, and price from
a variety of sellers.

 products and services;
 different kinds of goods.
Grammar Revision
The Passive Voice (Perfect)
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Form be + Past Participle
Perfect
Present the letter has been written
Past the letter had been written
Future the letter will have been written
Ex.1. Complete the sentences using the correct passive (perfect) form of
the verbs in brackets.
1. A lot of new companies (open) in our city this year.
2. We didn’t know that he (not invite).
3. The construction of our new office (finish) before winter comes.
4. He went to London last year and he (not hear) of ever since.
5. I wondered why her child (not teach) any foreign language.
6. The instructions just (give).
7. He didn’t follow the advice he (give).
8. I realized that the letter (lose).
9. The answers to all business letters (write) long before the end of the working
day.
10. This historical fact (know) for many years.
11. The work (do) by the time he comes back to the office.
12. I wondered whether the product already (withdraw) from the market.

1. This new product much (talk) about.
2. Those papers (not look through) yet.
3. Several contracts (sign) next week.
4. When I came, the problem (not settle) yet.
5. The letter still (translate).
6. The list of applicants (make) before I came.
7. Nothing (hear) of her since she left Kyiv.
8. This product (produce) in large numbers before we received this complaint
about a bad quality.
9. A new cosmetic line (launch) onto the market by the end of the year.
10. The date of the meeting (change) before they informed us.
11. Your order (send) before you return.
12. You (bother) by that man again.

1. Ці ходові споживчі товари виробляються в Україні.
2. Ці послуги надаються безкоштовно.
3. Було обговорено лише 2 питання, коли ми почули дзвінок.
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4. Мені завжди давали корисні поради.
5. Що вам пояснювали, коли я зайшов?
6. Не входьте без запрошення. Зараз обговорюється дуже важливе
питання.
7. На жаль нічого не було зроблено для того, щоб допомогти йому
закінчити цей проект.
8. Цікаво, де надаються такі послуги?
9. Цей високоприбутковий товар буде завезено із західного регіону.
10. Коли згадали цей факт, усім стало зрозуміло, що малося на увазі.
11. Йому дали ще 3 тижні для того, щоб розробити новий продукт.
12. Коли ми приїхали в це місто, ця книга продавалася скрізь.
13. Цей продукт буде вилучено з продажу до кінця місяця.
GRAMMAR PROGRESS TEST II (PASSIVE VOICE)
Ex.1 Choose the correct answers.

1. He knew why he was chosen/had been chosen.
2. He was shocked/had been shocked by his boss’s attitude.
3. We are just sent/have just been sent new information.
4. Everything will be done/will have been done by the end of the week.
5. He is interviewed/is being interviewed now.
6. My application is still considered/is still being considered by the managers.
7. The letters has just been brought/have just been brought.
8. He explained that a new job was offered/had been offered to him in February.
9. She was never made/has never been made such an exciting proposal.
10. My computer is repaired/is being repaired now.
11. This cheque was signed/has been signed by the manager an hour ago.
12. Negotiations will have been held/will be held in Kyiv next week.
13. Prices for oil had been increased/have been increased again.
14. Our company was founded/has been founded in 1990.
15. Extra payments are given/are being given to employees with initiative once a
month.

1. Payment (make) in the local bank last week.
2. Special training (give) to new employees in our company.
3. Taxes (raise) now.
4. The project just (complete).
5. This new product (develop) by the end of the month.
6. A lot of the ideas for new products (provide) by customers.
7. My friend just (promote).
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8. A decision already (make) when he came.
9. Every product (check) for quality.
10. Nothing (do) since we left the office.
11. The first branch of our bank (open) in 2000.
12. New marketing strategy (develop) now.
13. I (ask) to do a lot of extra work at the moment.
14. Most of the top managers (fire) after the takeover.
15. The company's German subsidiary (sell) by the end of the year.
Ex.1. Describe what a product is and how products are classified.
Ex.2. What is the difference between goods and services? Give some
familiar examples of each.
Ex.3. Discuss with your groupmates what firms should do to succeed

in business.

1. My manager has given me yeoman service for many years. I shall be sorry to
lose him.
2. If you want to get to the top of the ladder, you must work like a demon.
3. I would like the job he is advertising. When you see him tomorrow, can you
put in a good word for me?
4. You can rely on my promise, even though it is not in writing. My word is my
bond.
5. At the interview, Jack played his cards well by trying to show how he could
be useful to the company.

“If you wish to know what a man is, place him in authority.”
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LESSON 4
Text: Marketing
Grammar: The Sequence of Tenses
involve (v)  містити в собі, мати на увазі

demand  попит, потреба
appropriate  відповідний, підхожий
achieve (v)  досягати, успішно виконувати
objective  мета, завдання
marketing strategy  стратегія маркетингу
take into consideration (v)  брати до уваги
marketing mix  формула маркетингу, комплекс
маркетингу
promotion  сприяння у продажу (товару)
support  підтримка, допомога
reliability  надійність
charge (v)  призначати, вимагати плату
distribution  розподіл; розповсюдження;
розміщення; збут
package (v)  пакувати
Marketing
Marketing involves analysing and understanding customer demand in

order to enable the company to provide the most appropriate products and
services.
A company’s approach to achieving its marketing objectives is called
marketing strategy.
The various factors a company must take into consideration when
developing its marketing objectives are referred to as marketing mix. The
marketing mix is often summarized as the so-called four P’s: product, price,
place, promotion: what to sell, to whom, where, and with what support.
Product can be defined as goods or service that you are marketing and
includes its design, quality and reliability.
Price refers to how much money a company charges for its products. The
marketing view of pricing involves considering the value of a product, the
volume of sales required.
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Place refers to distribution, that is, how and where the product is made
available to customers.
Promotion means presenting the product to the customer. Promotion
involves considering the packaging and presentation of the product, its image,
the product name, advertising.

involve, analyse, provide, achieve, consider, summarize, pay, distribute,
present.
1. demand a) noun b) verb
2. approach a) noun b) verb
3. place a) noun b) verb
4. support a) noun b) verb
5. charge a) noun b) verb
6. view a) noun b) verb
7. value a) noun b) verb
8. name a) noun b) verb

купівельний попит; досягати мети; стратегія маркетингу; брати до
уваги різні фактори; формула маркетингу; підтримка; якість та надійність;
обсяг продажу; сприяння у продажу (товару); пакування товару; реклама.
similar meaning:
A B
involve cost
appropriate supply
achieve empower
objective assistance
support aim
enable reach
provide suitable
price include
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to understand, appropriate, to fail, to provide, identical, inaccessible.
Ex.6. Match the nouns in the left hand column with the nouns
environment
distribution department
strategy
mix
promotion plan
objectives
channels
marketing costs
company
system
network
campaign
Ex.7. Replace each definition with a single word relating to marketing

mix:
1. the item made for sale__________
2. how much it will cost__________
3. where it will be sold_________
4. what publicity it will get_________
Ex.8. The words in the box frequently occur after “marketing”.

1. the combination of factors that influence sales and can be controlled by a
company. These include product, pricing, promotion and place;
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2. a detailed report that shows how a company or a department will maintain
and improve sales in a certain area;
3. the combination of factors that affect a company’s sales in a particular area or
country. These factors include changes in government policy, in people’s
levels of income, the development of new technology or transport systems
and the activity of rival firms;
4. a detailed inspection of the strengths and weaknesses of the marketing
activities of an organization;
5. a company’s approach to achieving its marketing objectives;
6. the business philosophy that involves the entire organization in the process of
satisfying customers’ needs while achieving the organization’s goals;
7. the general and specific aims which a firm sets for itself in selling its
products.
Ex.9. Look at the words in the box. Match them with the correct
definition from the list below:
1. the desire of consumers to obtain goods and services;

2. an aim or target;
3. advertising or other activity intended to increase the sales of a product;
4. the movement of goods to places where they can be sold;
5. the actions of identifying, satisfying and increasing the buyer’s demand for a
company’s products;
6. the amount of money for which something can be bought or sold;
7. to put a price on; to ask for payment from;
8. correct, suitable
9. the worth of something in terms of the money or goods for which it can be
exchanged.

1. … for reliable cars has increased.
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2. Our main … is to reduce prices.
3. Television advertising is an expensive but effective method of … .
4. The company’s main activities are manufacturing, marketing and … .
5. She works in … .
6. We can’t afford to buy the computer at that … .
7. The bank … 1% for changing traveller’s cheques.
8. This company is very successful, so she has made the … choice in joining it.
9. The … of this home has doubled since we bought it.
10. The company has increased sales because of a favourable … .
11. The organization has decided to follow the recommendations of the most
recent marketing … .
12. Next meeting of the Board of Directors will discuss our new marketing … .
Strategy, audit, marketing environment, value, appropriate,
charges, price, marketing, distribution, promotion, objective, demand.

Marketing mix
Marketing mix is the combination … marketing plans and policies that are
employed … an organization in order to achieve its marketing objectives. In its
simplest form, it can be represented … policies adopted … four areas, the four
P’s but there can be a large variety … elements employed … each category.
The exact combination … such policies employed … an organization will
depend … the size and resources … the organization, the nature … the product,
the nature … the market and the state … competition … the market.
(within, of (7), by (3), in (2), upon)

1. What does marketing involve?
2. What is marketing strategy?
3. What are the four elements of the marketing mix?
4. How can “product” be defined?
5. What does “price” refer to?
6. What does “place” mean?
7. What is promotion?
Ex.2. Define the main elements of the marketing mix.

― includes its quality, its features, style, brand name, size;
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― includes consideration of things like the basic list price, discounts, the length
of the payment period, and possible credit terms;
― includes such factors as distribution channels, coverage of the market,
locations of points of sale;
― includes advertising, publicity, sales promotion.

 marketing and marketing strategy
 marketing mix
Grammar Revision
The Sequence of Tenses

After one of the past forms in the principal clause we find past forms in
the subordinate object clause:
1. if the action of the object clause is simultaneous with that of the principal
clause, the Past Simple or the Past Continuous is used in the object clause.
He thought I was joking.
2. If the action of the object clause precedes that of the principal clause, the
Past Perfect or the Past Perfect Continuous is used in the object clause.
I understood that he had already left the office.
3. If the action of the object clause follows that of the principal clause, the
Future-in-the-Past is used in the object clause.
I was sure that we would win this game.
Ex.1. Make the actions in the following object clauses simultaneous

with those of their principal clause.
1. He was surprised that I (know) his telephone number.
2. I knew the children (hide) somewhere in the room.
3. He told us that he (work) for a large corporation.
4. He said the information (be) rather interesting.
5. We knew that Ann (have) an English class every Wednesday.
6. I knew that they (discuss) my new proposal then.
7. He said that he (be) interested in marketing.
8. She said she (be) busy.
9. The customer said that he (want) to have a word with me.
10. He explained that he (take) driving lessons.
11. The customer said he (think) about buying a new computer.
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Ex.2. Make the actions in the following object clauses precede those of
their principal clause.
1. I knew that he (go) to London already.
2. He asked me why I (not invite) him to that scientific conference.
3. He said he (not hear) anything about her complaint.
4. She said the secretary (send) the message already.
5. I knew that she (make) an appointment with general manager.
6. He said that he (work) hard all the time.
7. He told her that he (meet) her the year before.
8. I knew that he (to be) ill the day before.
9. She thought he (graduate) from the University.
10. Didn’t you know that he (establish) a business of his own?
11. We knew that he (work) for this company before.
Ex.3. Make the actions in the following object clauses follow those of
their principal clause.
1. He told us that his daughter (be) a marketer.
2. She said that she (finish) her report by 6 o’clock.
3. Mr. Black said the manager (come back) to New York the following day.
4. The secretary told me that the meeting (take place) the following month.
5. I hoped that he (apologize).
6. She said she (not attend) our meeting on Monday.
7. I asked him when the negotiations (begin).
8. He said that the price (not include) the cost of packing.
9. She decided that she (ring) up there tomorrow.
10. We decided that you (be) able to help us.
11. I was sure that they (offer) me that job soon.

1. Він сказав, що він сьогодні дуже зайнятий.
2. Менеджер повідомив нам, що в нього є важливі новини.
3. Вона запитала, коли я піду за покупками.
4. Він пояснив, що ніколи там не був.
5. Я сподівався, що проведу там всю відпустку.
6. Він проінформував, що вони вже обговорили цю небезпечну ситуацію.
7. Шеф сказав, що я повинна відповісти на цей лист негайно.
8. Вона запитала мене, де працює мій брат.
9. Секретарка повідомила, що вже надрукувала цей контракт в трьох
примірниках.
10. Він знав, що вони вже розробили нову маркетингову стратегію.
11. Він повідомив, що не буде брати до уваги цю інформацію.
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Ex.1. Talk to your groupmates about the role and nature of marketing
in the Ukrainian economy.

 if marketing information is as important to small firms as it is to larger firms;
 if a good marketing strategy is vital to a product’s success

1. I am making my first speech at our company meeting. I hope you’ll be there
to give me moral support.
2. We have to get this product off the ground by the summer.
3. Hughes isn’t worth his wages; it’s time we gave him the elbow.
4. We'll get more bang for our buck if we advertise online.
5. When I left home, work was difficult to find, and I earned hardly enough to
keep body and soul together.
Ex.5. Comment on the quotation:

“A man without a smiling face must not open a shop.”
LESSON 5
Text: Advertising
Grammar: Reported Speech (Statements)
advertising  рекламна справа; реклама;

рекламування
target customer  потенційний клієнт
account  в практиці рекламних агенцій
загальновизнана назва контракту між
клієнтом, який платить за здійснення
професійної послуги, та агенцією
advertising campaign  рекламна компанія
allocate (v)  розміщати (капітал); асигнувати,
приділяти
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budget  бюджет, фінансовий кошторис
brief  справа; короткий виклад
statement  виклад, формулювання
message  повідомлення, послання
communicate (v)  повідомляти (когось-to), передавати
advertisement (advert, ad)  реклама; рекламне оголошення
media  засоби масової інформації,
засоби/носії реклами
advertising media  засоби розповсюдження реклами
broadcasting  трансляція
leaflet  листівка, невелика тоненька брошура
flyer  листівка
display  показ, демонстрація; виставка
display (advertising)  ілюстративна (реклама)
poster  афіша; плакат; оголошення
hoarding (BrE)/billboard  щит, дошка для наклеювання
(AmE) оголошень, афіш, плакатів тощо
point of sale  місце здійснення продажу
trade fair  торговий ярмарок
word-of-mouth (advertising)  усна (реклама)
corporate advertising  реклама фірми
brand image  імідж торгової марки
public relations (PR) expert  експерт з питань організації
громадської думки
publicity  пабліситі; реклама; публічність;
гласність
Advertising
Advertising is one of the main methods of promotion. Its aim is to

increase sales by making a product or service known to a consumer and to
persuade that consumer to buy it.
Advertising is often designed and managed by advertising agencies.
Large companies usually use advertising agencies to promote their
products and the company’s image to the target customers.
The account is the contract between the client company and the agency to
develop an advertising campaign. The client allocates a budget, an amount of
money, to the task. The agency and the client then discuss the brief, which is a
statement of the client’s objectives, as well as the message the company wishes
to communicate to the consumers.
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After that the agency is ready to start work. An advertising campaign
consists of a series of advertisements (adverts, or ads) which are run in
various media.
The most common types of advertising media include: broadcasting (TV,
cinema, radio), press (newspapers, magazines), printed material (brochures,
leaflets, catalogues, flyers), electronic (Internet), display (posters,
hoardings/billboards, vehicles, point of sale), others (trade fairs, word-of mouth,
packaging).
Corporate advertising is not concerned with increasing sales of a
particular product or service. Its aim is to present to the public the brand image.
Public relations (PR) experts organize activities which generate positive
publicity for companies.

advertisement, information, persuasion, management, promotion,
development, allocation, discussion, statement, communication, agreement.
1. increase a) noun b) verb
2. use a) noun b) verb
3. target a) noun b) verb
4. account a) noun b) verb
5. contract a) noun b) verb
6. budget a) noun b) verb
7. wish a) noun b) verb
8. work a) noun b) verb
9. present a) noun b) verb

головні методи сприяння у продажу товару, інформувати споживача;
реклама; рекламна агенція, потенційний клієнт; розробити рекламну
кампанію; повідомляти споживача, розпочати роботу; засоби
розповсюдження реклами; торговий ярмарок; усна реклама; ілюстративна
реклама; реклама фірми; експерт з питань організації громадської думки,
збільшувати продаж.
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similar meaning:
A B
main promote
amount notify
vehicle budget
start begin
allocate allot
contract automobile
inform sum
advertise principal

similar, to finish, to conceal, subordinate, producer, to agree.
cut
advertisement allocate
increase
finance
budget do
promote
place
advertising run
take out
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1. the business that deals with making, distributing and selling advertisements;
2. an independent firm that plans, produces and places advertising for its clients;
3. the various forms of communication through which advertising reaches its
audience;
4. a book containing details of items for sale;
5. the place where a customer buys something;
6. an exhibition where companies in a particular industry display their products
to potential buyers;
7. the contract between the client company and the advertising agency to
develop an advertising campaign;
8. a statement of the client’s objectives;
9. a notice or message in a newspaper, or on a poster in a public place, or
announcement on television or on the radio offering or asking for a product
or service;
10. the feelings and opinions that a buyer has about a particular named product.

1. My friend works for one of the biggest … in Ukraine.
2. We’ll have … for a new secretary.
3. The best way to sell your car is to put … in the local paper.
4. How easily are you persuaded by … ?
5. We place … about our products in the newspapers every week.
6. The agency lost a $10 million account when it mistakenly ran … for a new
product before it had formally been introduced.
7. The choice of advertising … was limited by the budget.
8. The client’s … stated that the advertising should target the students.
9. … is a large board for displaying posters alongside roads.
10. Advertising is often designed by … .
11. Mercedes cars have a quality … .
hoarding, brief, media, an advert, advertisements, advertising, an
advertisement, to advertise, advertising agencies (2); brand image.

Advertising Agency
Advertising agency is an organization that creates advertising material on
behalf of its clients. Agencies will take the advertising requirements … a
business and organize the production … their campaign … designing and
producing advertisements and booking space … the advertising media. … recent
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years they have grown … size and importance as expenditure … advertising …
business has increased and as a wider range … organizations have used
advertising.
(of (3), by (2), in (3), on)

1. What is advertising? What is its aim?
2. Who is advertising managed by?
3. What do large companies use advertising agencies for?
4. What is the account?
5. What do we call a statement of the clients objectives?
6. What does an advertising campaign consist of?
7. What do the most common types of advertising media include?
8. What steps are required to start an advertising campaign?
9. What is the aim of corporate advertising?
10. What do public relations experts do?
Ex.2. What do you understand by these terms?

target customers, account, budget, brief, brand image, public relations
experts.

a) product advertising
b) advertising agencies and an advertising campaign
c) the most common types of advertising
d) corporate advertising
Grammar Revision
Reported Speech. Statements
1. When you report what someone has said you often have to make certain
changes to verb tenses and other words:
a) When the reporting verb is in the past, you make the following tense
changes:
Present Simple  Past Simple
Present Continuous  Past Continuous
Past Simple  Past Perfect Simple
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Past Continuous  Past Perfect Continuous
Present Perfect  Past Perfect
Simple Future  Would
must  had to
can  could
b) Main changes of time indicators:
today  that day
now  then
this  that
here  there
ago  before /previously
tomorrow  the next day/the following day
yesterday  the day before/the previous day
last night  the night before/the previous night
next week  the following week/the week after (that)
2. There are occasions where you needn’t change the tense:
 where facts are still true
My name is Mary – She said her name’s Mary.
 if the direct speech is in the past perfect or has the following modals: must
(for deduction), might, ought to, could, should, would)
 if the reporting verb is in the present
I’ll be back in a minute.
She says she’ll be back in a minute.
Ex.1. Match the direct speech word or phrase on the left with
its reported speech equivalent on the right:
a. 10 weeks ago 1. that night
b. last night 2. there
c. today 3. the following month
d. these 4. the day before
e. now 5. the next morning
f. tomorrow morning 6. then
g. yesterday 7. those
h. next month 8. that day
i. here 9. the night before
j. tonight 10. 10 weeks previously
Ex.2. Rewrite these sentences, changing the direct speech to reported

speech.
1. “We have only finished because we’ve worked late the whole week.”
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He said _________________.
2. “I am leaving tomorrow.”
Mary explained _______________.
3. “I’ve forgotten to phone him.”
Carol said _______________.
4. “I work for a small advertising agency.”
Lucy told me ________________.
5. “I went there with my customer last week.”
The advertiser said ______________.
6. “We are working towards increasing the quality of services.”
Manager said ________________.
7. “I must finish this work before I leave.”
He said __________________.
8. “Kyiv is the capital of Ukraine.”
He explained __________________.
9. “I want to buy this elegant dress, but I haven’t brought any money.”
Ann told us __________________.
10. “If you answer the questions correctly, you may win $100.”
The advertisement said ________________.
Ex.3. Rewrite these sentences, changing the reported speech to direct

speech.
1. The advertiser said that they had already started the advertising campaign.
2. He said he would phone back.
3. She explained that her company had opened an office in London.
4. He said that the advertising campaign had failed to increase sales.
5. He said that they would sign the contract the next morning.
6. The client explained that they had already discussed the brief with the
agency.
7. He told us that the agency was ready to start that work.
8. Tom said that he had tried to ring up his mother several times on the previous
day but had not succeeded in getting through.
9. My employer told me that, in his opinion, I would do better in some other
kind of job.
10. The secretary said Mr. Black was having an appointment then.
Ex.4. Complete each sentence, using say, tell or speak in an appropriate

form.
1. He … a few words about this account.
2. She can … a few European languages.
3. Don’t … me that this advert is important.
4. Can you … me the way to the nearest advertising agency?
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5. She … she is interested in our goods.
6. I can …that these goods are in great demand.
7. We … with the advertiser about this problem.
8. Neither of my parents … English.
9. The magazine also … about advertising in Italy.
10. She … me that she would be late.
11. I … to my secretary and she … she would phone you.
12. Why don’t you … what you mean?
Ex.1. Talk to your groupmate about advertising. Think about:

 the role and the purpose of advertising;
 the advantages and disadvantages of using various advertising media;
 the best way/place to advertise products and services.

 What are the best and the worst adverts in Ukraine at the moment?
 What do you think advertising agencies should or shouldn’t do?
 Do you think that the world would be better off without advertising?
Ex.3. Can you think of any new and innovative ways to advertise?

1. If you want any information, ask Mrs. Jones. She knows her onions.
2. I can’t lend you $ 10, because I’m really hard up this month.
3. I wish I hadn’t paid Brown all that money in advance; he has taken me
for a ride.
4. I don’t care two pence what Martin thinks.
5. “It’s high time we did away with red tape!” a voice called.

“Doing business without advertising is like winking at a girl in the dark.
You know what you are doing, but nobody else does.”
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(Anonymous)
TEST 3 (UNIT III)

1. An advertisement on radio or on television.
a) article b) review c) commercial
2. A phrase used in advertisements to attract attention to the product.

a) celebrity b) slogan c) proverb
3. The perception that the public has of a person or organization.

a) attitude b) reputation c) image
4. A company which sells goods or equipment to another company.

a) customer b) supplier c) retailer
5. The group of people that the company wants to buy the product.
a) target market b) local market c) competitive market
6. A customer of someone who provides a professional service.

a) buyer b) client c) seller
7. An organized movement for consumer protection.

a) consignment b) consumption c) consumerism
8. The study of what products and services customers might like to buy.
a) market penetration b) market demand c) market research
9. A group of consumers for whom a business has designed a product and marketing strategy.
a) supermarket b) target market c) financial market
10. The company that sells the largest amount of a specific commodity in a particular area.
a) market trend b) market share c) market leader
11. Items created to be used in everyday life.

a) durable goods b) consumer goods c) industrial goods
12. Goods that can be imported without customs duties.

a) perishable b) luxury goods c) duty-free goods
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13. Something that earns a lot of money.
a) money broker b) money spinner c) money-maker
14. A product sold at a loss to encourage trade.

a) loss leader b) moneylender c) cash cow
15. The movement of goods to places where they can be sold.

a) marketing b) promotion c) distribution
16. The amount of money for which something can be bought or sold.
a) charge b) value c) price
17. An exhibition where companies in a particular industry display their products to potential buyers.
a) trade gap b) trade fair c) trade mark
18. The work of presenting a good image of an organization to the public.

a) public monopoly b) public relations c) public spending
19. The combination of factors that influence sales and can be controlled by a company, these include product,
pricing, promotion and place.
a) marketing concept b) marketing environment c) marketing mix
20. Bringing in more money than is spent.

a) profitable b) promotional c) productive
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UNIT IV BUSINESS AND FINANCE
LESSON 1
Text: Costs. Assets and Liabilities

Grammar: Reported Questions, Orders,
Requests
costs  витрати, видатки; вартість,

собівартість
output  продукція; випуск, виготовлення;
обсяг виробництва; продуктивність
fixed costs  основні витрати
variable costs  змінні витрати
direct costs  прямі витрати
indirect costs  непрямі, посередні витрати
overhead costs/overheads  накладні витрати
expenses/expenditure  витрати, видатки
assets and liabilities  активи та пасиви
fixed assets  неліквідні активи; основний капітал
current assets  поточні оборотні активи (кошти),

оборотний капітал
receivables  рахунки дебіторів; дебітори,
дебіторська заборгованість
deposit  депозит, вклад у банку
generate, (v)  створювати
long-term liabilities  довгострокові зобов’язання (пасиви)

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current liabilities  короткострокові зобов’язання (пасиви)
be due for (v)  бути зобов’язаним; підлягати виплаті
Costs. Assets and Liabilities
The money that a business spends in order to produce goods or services is

its costs. Different businesses have different cost structures and define and
calculate their costs in different ways. One way of classifying the costs of a
business is to relate them to the output of the firm.
Fixed costs are those which remain unchanged whatever the level of
output, e.g. rent, heating, interest charges, salaries; variable costs change
directly with the output of the business, e.g. materials.
Direct costs are directly related to the things produced. In manufacturing,
for example, direct costs include raw materials and wages.
Indirect costs may include things like social security charges on top of
the wages.
Overhead costs or overheads are used to mean different things, but
usually cover all the regular non-production costs of running a business, such as
salaries and telephone bills; they may include the cost of marketing.
Costs are also referred to as expenses or expenditure.
Things of value owned by a firm are its assets. Fixed assets are long-term
assets which are for use in the business and not for re-sale (land, buildings,
furniture, equipment, etc.)
Current assets are used in the course of business. They include cash,
receivables, bank deposits and investments in other companies.
The assets help generate the income of the company.
Liabilities are what a business owes to those outside the business
(suppliers, lenders, etc.).
Liabilities are classified as either long-term liabilities which are due for
repayment after more than one year, or current liabilities which are short-term
debts and debts to suppliers the company expects to pay within one year.

expenditure, receivables, generation, cost, definition, calculation,
investment, classification, repayment, expectation.
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виробляти товари та послуги; витрати; структура витрат;
підраховувати витрати; основні витрати; обсяг виробництва; заробітна
платня; змінні витрати; прямі витрати; сировина; непрямі витрати;
накладні витрати; активи та пасиви; неліквідні активи; перепродаж;
поточні оборотні активи; готівка; рахунки дебіторів; дохід компанії;
довгострокові (короткострокові) зобов’язання; борг.
A B
current assets expenditure
output possess
change alter
remain production
produce short-term liabilities
long-term liabilities deferred liabilities
current liabilities manufacture
fixed assets stay
own capital assets
expenses circulating assets

assets, to own, current liabilities, fixed assets, withdrawal, bottom,
revenue.
increase
limit
maintain
debt reduce
expand
discharge
be in
costs repay
run into
write off
calculate
output estimate
incur
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offset
save
1. the money that a business spends in order to produce goods or services;

2. the quantity of goods produced;
3. the money spent to run a business, such as rents, salaries, heat, etc.
4. items of value to a person, business, or institution;
5. money owed by a company; a debt;
6. money that is owed to a business;
7. a sum of money paid into a bank;
8. an amount of money spent;
9. debts that are payable on demand or within one year;
10. money owed that does not have to be repaid until some future date;
11. the cost of materials, labour, etc. involved in making a product.

1. We had to increase prices this year just to cover our … .
2. Factory workers have increased … by 10 %.
3. It took him years to pay off all his … .
4. … are bills that the company expects to pay in the near future.
5. … include rent.
6. Updating these machines will increase our … this year.
7. The company does not have enough money to meet its … .
8. He is … to pay his debts.
9. The assets help … the income of the company.
10. The company was forced to sell off its … .
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11. Telephone bills, payroll, and rent are some of our monthly … .
assets, generate, due, liabilities, expenditure, fixed costs, current
liabilities, debts, output, costs, expenses.

Assets
Current assets are cash and other assets that can be quickly converted …
cash or that will be used … one year. Cash is the most liquid asset, so it is listed
first. Following that are stocks, bonds, and so on – that can be converted … cash
… a matter … days. Next are the firm’s receivables.
Fixed assets are assets that will be held or used … a period longer than
one year. They generally include land, buildings, and equipment.
Intangible assets are assets that do not exist physically but that have a
value based … legal rights or advantages that they confer … a firm. They
include patents, copyrights, trademarks. They are … value … the firm … a
number … years.
(to, on (2), for (2), of (3), in, into (2), within)

price worth cost value
price – the amount of money you have to pay (usually for goods) in order
to buy them;
worth – adj. having a value or a price;
cost – n. the amount of money paid or charged for goods or services;

– v. to be the price of something;
value – the amount that something is worth, measured especially in

money.
1. She bought this coat in the sales for a very good … .
2. I thought this bracelet was made of gold, but it turned out to be … .
3. Will the … of my property go down if they build a plant nearby?
4. This dress was a real bargain; it only … me $20.
5. The … of keeping a person in prison for a year is enormous.
6. I’ll send you a cheque to cover the … for the stamps.
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7. That shop was always empty because the … were too high.
8. In London the … of living is very expensive.
9. That ring has great … .
10. That new magazine is certainly … the money.
11. Gold coins are … .
12. His offering … for the apartment was $150,000.
13. We wanted to invest in a new production facility but the … was prohibitive.
14. It … a lot to buy real estate in London.
15. Returned goods can be exchanged for goods of an equivalent … .

1. What are costs?
2. Do different businesses have similar cost structures?
3. How can the costs be classified?
4. What are fixed costs?
5. Do variable costs remain unchanged whatever the level of output?
6. What are direct costs related to?
7. What do indirect costs include?
8. What do overheads mean?
9. What are assets?
10. How are fixed assets distinguished from current assets?
11. What are liabilities?
12. How are liabilities classified?
13. What is the difference between long-term liabilities and current liabilities?
1. the salary of an Accounts Manager (fixed/variable costs)
2. rent and heating (fixed/variable costs)
3. running a business (direct/overhead costs)
4. materials used in making some goods (indirect/variable costs)

 costs
 assets
 liabilities
Grammar Revision
Reported Questions. Requests. Orders.

When you report a question, you use the same word order as in the
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statement. You make the same tense and other changes as you do for reported
statements:
 Wh questions:
“Where is Mary, Tom?” She asked Tom where Mary was.
 Yes/No questions:
“Are you going with us, Tom?” – She asked if/whether Tom was going
with them.
 Requests
“Would you pass the book please, Tom?
She asked Tom if he would pass her the book.
She asked Tom to pass her the book.
 Orders:
“Go to bed!” – Mary’s mother told her to go to bed.
Ex.1. Rewrite these sentences, changing the direct speech to reported

speech.
1. “Who has just dropped a $ 10 note?” I asked.
2. “What happened to your partner?” asked one of the men.
3. “Why do the prices go up so often?” she wondered.
4. “Have you got a work permit?” Ann wanted to know.
5. “Are you interested in advertising?” asked Mary.
6. “Would you like to join our company?” she said.
7. “Are you leaving today or tomorrow morning?” asked his secretary.
8. “Don’t watch late-night horror movies”, I warned them
9. “Read the contract before you sign it,” he said to his client.
10. “Buy a new car,” I advised him.
11. “Don’t drive so fast,” she begged him.
12. “Don’t wait till tomorrow,” said the advertisement.
13. “Could you translate this for me, please?” I asked the agent.
14. “Could I have the weekend off?” she asked her boss.
15. “Would you mind paying cash?” said the salesgirl when he took out his
cheque-book.
16. “Why don’t you trust her?” I asked Mary.
Ex.2. Rewrite these sentences, changing the reported speech to direct

speech.
1. She said that her corporation had become bankrupt and its stock was of no
value anymore.
2. I asked her if she’d like to take my pen but she thanked me.
3. He wanted to know if I was going to calculate the indirect costs.
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4. My employer hoped I would not be offended if he told me that I would do
better in some other kind of job.
5. He asked me how long it had taken me to complete the job.
6. I wondered whether he had bought a guidebook to London.
7. He asked what we were discussing.
8. I wondered if they would solve that problem at the meeting.
9. He asked the manager to accept his resignation.
10. She asked me when I would be in Kyiv.
11. The court ordered the company to pay all their debts before 1 September.
12. He wanted to know when the new training program would be presented.
13. She wondered where we had held the conference the previous year.
14. Helen asked Tom if he had got a car.
15. He promised her that if she attended the conference the following week, she
would hear his new theory about classification of the costs.
16. He couldn’t understand how I managed on my salary.
Ex.3. Rewrite the passage in Direct Speech.

Joan worked in a shop selling gramophone records. One day a middle-
aged woman came in, sat on a stool in front of the counter and smiled at Joan.
Addressing Joan familiarly, she said she wanted a record-one she had heard on
the radio that morning. Joan asked what the record was called. The woman
shook her head, and said she didn’t remember, though she would know it if she
heard it. She suggested that Joan should play her some. Joan pointed out that
they had hundreds of records in stock, and that it would take a very long time to
play her even a little of each. The woman looked very unhappy, but suddenly
her face brightened. She had just remembered something, she said: the music
she wanted came from a play in which there was a woman who spoke very
badly, but who after a time learnt to talk beautifully. Joan asked if it could be
from “My Fair Lady”. The woman cried out that that was it. She wished Joan
had thought of it earlier instead of wasting time asking silly questions. She
supposed Joan was new to the job.
(From B.D. Graver. Advanced English Practice,
Oxford University Press)
Ex.1. Define the following terms:

 costs
 assets
 liabilities
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Ex.2. Explain how a firm can define and calculate its costs.
Ex.3. Discuss with your groupmates which is more important for a

business – its assets or liabilities. Why?

1. You’d better not rely on him. When it comes to business he’ll show the
white feather.
2. We were surprised at Jack turning up in our office. We saw him here once in
a blue moon.
3. Stop arguing. We’d better read the paper. Here it is put in black and white.
4. It’s time we shut up shop.
5. Reading between the lines of Miss Prout’s reference, I have the impression
that her employer was not satisfied with her work, although he doesn’t
actually say so.

“A small debt produces a debtor; a large one an enemy.” (Syrus)
LESSON 2
Text: Raising Finance

Grammar: First Conditional
raise finance (v)  залучати фінанси

run costs (v)  керувати, управляти витратами
financial reserves  фінансові резерви
extra capital  додатковий капітал
premises  приміщення; будинок з прилеглими
будівлями і ділянкою
working capital  оборотний капітал; оборотні фонди
preserve (v)  зберігати; підтримувати
cash flow  потік готівки
time-lag  відставання в часі; спізнення
retained profit  нерозподілений прибуток
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borrowing  позика (коштів); кредит
grant  дотація; субсидія, грант; грошова
допомога
loan  позика
tax  податок
distribute (v)  розподіляти; роздавати
lender  кредитор, позикодавець
leasing  лізинг, довгострокова оренда
hire purchase  купівля у розстрочку
debt factoring  борговий факторинг
share issue
share flotation  розміщення, випуск нових цінних паперів
share offering на вільний ринок
Raising Finance
All firms need capital to stay in business. Capital is the money that a
company uses to operate and develop. As well as money for running costs such
as wages, material and rent, companies need to have financial reserves. Extra
capital may be needed to expand by buying new premises or developing new
products. Firms may also need working capital to preserve cash flow through
the business, for instance if there is tіme-lag between producing goods and
services and getting paid for them.
There are four main ways of obtaining capital:
 retained profit
 borrowing
 share issues
 government grants and loans
Retained profit is the amount of profit after tax that directors of a
business decide not to distribute to their shareholders, but to keep within the
business.
Borrowing money usually accounts for 20-30 percent of firms’ capital.
There are several types of lenders to business: commercial banks, leasing, hire
purchase, debt factoring, the Stock Exchange.
When companies raise finance by selling shares for the first time they
make share issues, share flotations or share offerings.
The government has a variety of schemes which give grants or cheap
loans to firms for certain purposes.
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finance, business, profit, government, commerce, work, reserve.

залучати фінанси; управляти витратами; мати фінансові резерви;
додатковий капітал, купувати нові приміщення; потік готівки, виробництво
товарів та послуг; здобувати капітал; нерозподілений прибуток; позика
коштів; випуск акцій; урядові субсидії; податок; акціонери; кредитор;
фондова біржа.
A B
share flotation stockholder
creditor instalment plan
hire purchase lender
shareholder share offering
profit purchase
obtain earnings
preserve enlarge
buy keep
expand get
Ex.4.Find suitable opposites to the following words:

borrowing, profit, to sell, cheap, lender.
arrange
capital repay
take out
loan raise
supply
apply for
finance borrow
invest
lend
185
1. money as a resource for business and other activities;

2. the capital from a business that is set aside from profit or from shares sold at
higher than their original price;
3. the amount of money moving into and out of a business at a particular point
in time;
4. part of the annual profit that is not paid out to shareholders as dividend, but
reinvested in the company;
5. receiving money from a person, a bank, or other financial organization and
agreeing to pay it back later, usually with interest;
6. money that has been borrowed and has to be paid back;
7. a person or an organization that lends money and charges interest on the
repayments;
8. a way of buying goods where the buyer takes the goods and pays for them in
regular instalments over a fixed period of time;
9. offering company shares for sale to the public or on a stock exchange for the
first time;
10. the amount of short-term capital that a business has available to meet the
day-to-day cash requirements of its operations;
11. money given for a specific purpose;
12. buildings and the land they occupy.

1. I’d like to pay in …, please.
2. The bank agreed to give the company … of $100,000.
3. The … in our company is good because we take in much more money than
we spend.
4. Our … will provide capital for the planned growth next year.
5. I applied at the bank for … at 7% interest.
6. The Ford Foundation gave the economist … for research.
186
7. He bought a computer on … .
8. A guard asked the stranger to leave the … .
9. As Britain recovers from recession, companies will seek to raise finance
through … .
10. Goods are … to our major customers first.
distributed; share issues; premises; hire purchase; a

grant; retained profit; cash flow; a loan (2); cash.

Retained Profit
Retained profit is the amount … profit … tax that directors … a business
decide not to distribute … their shareholders, but to keep … the business. It is
held as an increase … the capital and reserves … the business, and will be used
to expand the operation … the business … the purchase … assets. Retained
profits form the most important source … finance … business expansion.
(for, through, in, within, to, of (6), after)

to lend – to borrow
to lend is used when it would be possible to say "give"
to borrow is used when it would be possible to say "take"
above.
Banks charge interest for money they _______. That means a person who
______ a certain amount must pay back more than he _______. Sometimes
debtors must _______ money from a second bank to pay back the money
______ from the first bank within an agreed period. The ______ policies of
banks differ widely. Some banks do not _____ money to private persons.
Practically all banks, however, require a security before they _______ any
money at all.
Ex.1. Answer the following questions.

1. What do businesses need financial reserves for?
2. What do companies need working capital for?
3. What are the four main ways of obtaining capital?
187
4. What is meant by the “retained profit”?
5. Is retained profit distributed to shareholders?
6. What are the main types of lenders to business?
7. When do companies make share flotations?

a) financial reserves;
b) retained profit;
c) borrowing;
d) share flotations;
e) grants and loans.
Grammar Revision
First Conditional:
Form:
if + Present Simple/Continuous, + will + infinitive
Use:
We use the first conditional:
 to talk about a likely situation and its probable result in the future.
If the weather keeps warm, we’ll go to the river.
 to give advice, threats and to make promises.
If I have time, I’ll help you.
Ex.1. Finish these sentences using the first conditional.

1. If he washes my car, … .
2. If you smoke, … .
3. If you need a lot of money, … .
4. If you fail your test in math, … .
5. If she loses her weight, … .
6. If you phone me tonight, … .
7. If I go to the party, … .
8. If it rains, … .
9. If I eat a lot of sweets, … .
10. If we get this loan, … .
11. If you skip classes, … .
12. If you buy a new flat, … .
13. If inflation rises, … .
14. If I can afford it, … .
15. If you feel underpaid … .
188
Ex.2. Put the verbs in brackets into the correct form.

1. If you (see) Mary, tell her I have a message for her.
2. If he (refuse) to help, I’ll have to manage without him.
3. What will we do if he (not meet) us?
4. If I (get) a work permit, I’ll stay for another three weeks.
5. If you (help) us, the job will only take an hour.
6. If I find his passport, I (phone) him at once.
7. If you leave your car unlocked, someone (steal) it.
8. Unless she (sell) more, she won’t get much commission.
9. If I lend you $ 100, when you (repay) me?
10. If we (make) share issues this month, we’ll raise our finance.
11. If you manage to get cheap loans, the firm (stay) in business.
12. If we (need) extra capital, we’ll apply at the bank for a loan.
13. If you (be) in difficulties with money, I’ll help you by all means.
14. If I (finish) this work before six, I'll let you know.

1. Якщо я попрошу його, він допоможе нам одержати цю позику.
2. Вони обговорять це питання, якщо у них буде вільний час.
3. Якщо нас запросять на ці переговори, ми будемо підтримувати вашу
стратегію.
4. Ми одержимо цю інформацію вчасно, якщо він відправить її
електронною поштою.
5. Якщо він забуде свою обіцянку, я нагадаю йому.
6. Якщо прибуток не буде розподілений між акціонерами, вони будуть не
задоволені.
7. Якщо ми одержимо цю довгострокову оренду, то відкриємо ще один
гіпермаркет в цьому місті.
8. Ми зможемо купити ці нові приміщення, якщо у фірми буде додатковий
капітал.
9. Якщо наш вчений одержить грант, він зможе закінчити дослідження цієї
важливої для всього людства проблеми.
10. Якщо я куплю цей комп’ютер у розстрочку, то я зможу заощадити
гроші на подорож до Єгипту.

 retained profit;
 shareholders;
189
 share offering.
Ex.2. Interview the financial manager in a large corporation. Ask him

about the ways his corporation obtains capital.
Ex.3. Discuss with your groupmates which way of obtaining capital is

more suitable for a small firm. Why?

1. He gave me one of his sandwiches, and I gave him some of my candy; share
and share alike.
2. He stole the lion’s share of the company’s profit.
3. In my book, you don’t complain about the staff to the boss until you have
discussed it with them first.
4. Bob lies for the sake of lying. It has become second nature to him.
5. You’ll give us a bad name if you talk to our customers like that!

“Finance is, as it were, the stomach of the country, from which all the
other organs take their tone.”
(W. Gladstone)
LESSON 3
Text: Financial Centres

Grammar: Second Conditional
trade (v)  торгувати (чимсь- in;)

stock market  фондова біржа
commodity market  товарна біржа
foreign exchange (forex)  валютна біржа
market
interest rate  позиковий процент/відсоток
raise capital (v)  збільшувати капітал, залучати капітал
190
securities  цінні папери
market-maker  дилер, який проводить операції з
цінними паперами
stockbroker  біржовий маклер/брокер
bond  облігація
bull market  ринок акцій, на якому підвищуються
ціни; ринок “биків”
bear market  ринок акцій, на якому знижуються
ціни; ринок “ведмедів”
Financial Centres
Financial centres bring together investors and the businesses that need
their investment.
Things traded in financial centres include: securities on the stock
markets; commodities such as cereals, coffee and precious metals on the
commodity markets, currencies on the foreign exchange or forex markets.
The stock market is the financial centre of any country. It reflects any
change in the economy. It is sensitive to interest rates, inflation and political
events. In a very real sense, it has its fingers on the pulse of the entire world.
The stock exchanges exist to allow investors to buy and sell shares, and
companies to raise capital. They also provide a market for government loans
and securities. On the market, the main operators are the market-makers who
trade in a group of shares, and stockbrokers who act as agents for their clients.
Market-makers sell to stockbrokers.
A share (BrE) or stock (AmE) is any of the equal parts into which the
capital of a company is divided. Securities are shares and bonds (official papers
given by a company or the government, to prove that you have lent them money
and that they will pay it back with interest).
When prices in a stock market or currency market are rising people talk
about a bull market. When prices are falling people talk about a bear market.

reflect, exist, invest, govern, operate, act, divide, prove.

торгувати акціями; фондова біржа; товарна біржа; валютна біржа;
дорогоцінні метали; валюта; урядові позики та цінні папери; біржовий
маклер; капітал компанії; облігації; позиковий відсоток; ринок “биків”;
ринок “ведмедів”.
191
Ex.3. Match words from list A wi th words from list B that have a
similar meaning:
A B
goods confirm
change whole
sensitive permit
entire foreign currency
allow stock exchange
foreign exchange alteration
securities market perceptive
prove commodities

to rise, to borrow, to include, partial, to unite, to prove.
in the right-hand column:
pay off
redeem
securities retire
deal in
commodities issue
trade in
bonds make
advertise
sell
192
1. a market where stocks and shares are bought and sold under fixed rules, but
at prices controlled by supply and demand;
2. a place where raw materials and some manufactured goods are bought and
sold;
3. a market where foreign currencies are traded;
4. a person or organization that buys and sells stocks and shares;
5. a certificate of debt;
6. shares and bonds;
7. a market in which the general level of share prices is rising;
8. a market where the general level of share prices is falling;
9. the amount of interest that is paid for money at a savings bank, on a bond,
etc;
10. a rise in prices and lowering of currency’s value.

1. The main international … are based in the USA, Japan, and the UK.
2. The Euro was stronger than the dollar on the … market yesterday.
3. Borrowers are encouraged to take out loans while … are low.
4. I’ll ask my … to sell these shares for us.
5. … try to predict changes in share prices.
6. Companies sell … to raise money.
7. Her company buys and sells … .
8. The … on a car loan is 10 %.
9. … are wholesalers of shares who keep supplies of the shares in which they
deal, making a continuous market for buyers and sellers.
10. Brokers … on stock exchanges.
trade, rate of interest, securities, bonds, market makers (2),
stockbroker, interest rates, foreign exchange, stock exchanges.

When companies are first listed … the Stock Exchange, their shares are
issued, or floated, … a price normally determined … the company. Existing
companies which are already listed may issue new shares if they need more
capital. The issue … new shares is known as the “primary” market.
The “secondary” market is where shares are bought and sold once they
have been issued. Prices are determined … the operation … the basic economic
laws … supply and demand.
193
If investors were unable to realise their assets … selling their shares …
the secondary market they would be reluctant to invest … companies. … turn,
companies would be deprived … a major source … capital. … these reasons
there are stock exchanges … most countries … market economies.
(with, in (3), for, of (5), on (2), by (3), at)

1. What can be traded in financial centers?
2. What is a commodity market?
3. What is the stock market sensitive to?
4. What do stock exchanges exist for?
5. What do stock exchanges provide?
6. Who are the main operators on the market?
7. Who do market-makers sell to?
8. What are securities?
9. What is a bull market?
10. When do people talk about a bear market?

a) things traded in financial centres;
b) stock exchanges;
c) market-makers and stockbrokers;
d) securities;
e) bull market and bear market.
Grammar Revision
Second Conditional
Form:
If + Past Simple/Continuous, + would +infinitive
Use:
We use the second conditional:
 to talk about an unlikely or imaginary situation and its result
If I won the lottery, I’d buy a new car.
 in the expression “If I were you, I’d …” to give advice
If I were you, I’d retire.
194
Ex.1. Finish these sentences using the second conditional.
1. If I passed my English exam, … .
2. If my friend got promotion, … .
3. If he listened to my advice, … .
4. If he invested in government bonds, … .
5. If I were you, … .
6. If the customer complained, … .
7. If you knew him better, … .
8. If I could help you, … .
9. If she were present, … .
10. If you didn’t ask me any questions, … .
11. If he took better care of his health, … .
12. If I saw it with my own eyes, … .
13. If I were sacked, … .
14. If the government raised taxes, … .
15. If you were introduced to the Managing Director, … .
Ex.2. Put the verbs in brackets into the correct form. (All the sentences
refer to the present or future).
1. If nothing better (turn up), he would apply for this job.
2. I wouldn’t want to live in this city even if I (have) all the money in the world.
3. If you (change) your mind, I would never forgive you.
4. If you (study) harder, you would get better marks.
5. If I (win) a lot of money, I would feel very happy.
6. If I were you, I (be) more careful.
7. If it (not be) so late, I would phone him.
8. If you really wanted to help, you (can) do it even now.
9. If we reached an agreement, we (sign) the contract.
10. If market prices (rise), we would talk about a bull market.
11. If you (can) send us this information, we would be very grateful.
12. Our products (not sell) if we didn’t have a strong sales department.
13. If she had more money, she (spend) her summers in Italy.
14. If you (provide) a better service, you would get more customers.
15. We would save money if we (employ) our own people.
Ex.3. Answer these questions with a conditional sentence.

What would you do if …
1. … you won lots of money?
2. … you were a famous film star?
3. … you found a wallet on the ground?
195
4. … you were invited to play a part in a film?
5. … you were trying to lose weight?
6. … you were to change your job?
7. … you saw someone cheating in an exam?
8. … you wanted to buy someone a really good present?
9. … you were to apply for the manager’s job?
10. … you found a job abroad?
11. … you were promoted?
12. … you were fired?
13. … you were asked to work overtime?
14. … you were president of a big company?
15. … your company's main competitors offered you a good job?

1. Компанія торгувала б своїми акціями, якби мала дозвіл.
2. Вони б знизили позиковий відсоток, якби компанія не одержувала такі
прибутки.
3. Якби не існувало фінансових центрів, компаніям було б важко
збільшувати свій капітал.
4. Якби вони продавали цінні папери на фондовій біржі, вони мали б вищі
прибутки.
5. Якби ці туристичні послуги надавалися конкуруючими фірмами, ми б
мали кращий вибір.
6. Якби ти продав ці акції, то вирішив би усі свої проблеми.
7. Якби ця компанія досліджувала ринок більш ретельно, вона б була
більш привабливою для інвесторів.
8. Якби попит на цей товар знизився, ми б вилучили його з ринку.
9. Якби у них був вибір, вони б підтримували вітчизняного виробника.
10. Споживачі із задоволенням купували б ваш товар, якби ви змінили
упаковку.
Ex.5. Under what circumstances, if any, would you:

 tell a lie to your parents?
 skip a lecture?
 leave the restaurant without paying the bill?
 lend a large amount of money to a friend?
 give a lift to a complete stranger?
 waste a large amount of money?
 betray you friend?
 leave the university?
196

 stock market
 commodity market
 foreign exchange market
 bull market
 bear market
Ex.2. Say what you know about stock exchanges in Ukraine. Do you
think stock exchanges are necessary? Is it usual for ordinary
people in Ukraine to own shares?

1. The work was difficult at first but, after a few weeks, everything fell into
place.
2. “It’s not my place to give you advice”, the clerk said to the manager.
3. If we cut out all unnecessary expenses, we shall have a reasonable chance of
weathering the storm.
4. Charging you € 200 for that simple repair was daylight robbery.
5. After months of work, we are beginning to see daylight.

"The best entrepreneurs are risk avoiders. They identify the risk, and then
they take actions to minimize the effects of it."
(Paul Hawken)
LESSON 4
Text: Investments
Grammar: Third Conditional.
Progress Test III (Conditionals).
capital goods  засоби виробництва; товари

197
виробничого призначення
portfolio  портфель цінних паперів
Unit Trust (BrE)  пайовий інвестиційний фонд/траст
Mutual Fund (AmE)  взаємний фонд; інвестиційний
фонд
fixed rate of interest  фіксована процентна ставка
gilt-edged security /gilt (BrE)  гарантований цінний папір
treasury bond (AmE)  казначейська облігація
derivative instrument/derivative  похідний інструмент
futures  ф’ючерс, терміновий контракт,
термінова угода
deal  угода
option  опціон, угода з премією
(обумовлене виплатою премії
право купити чи продати цінні
папери за встановленим курсом)
swap  своп, обмін активами чи
зобов’язаннями
suit (v)  влаштовувати, задовольняти
Investments
When we speak about investments we mean the purchase by a business of

new capital or of capital goods such as new machinery. In the most general
sense, the objective of investing is to earn money with money. When an investor
holds the collection of financial securities we say that he holds portfolio.
Unit Trust (BrE) or Mutual Fund (AmE) is a company that spreads its
investors’ capital over a variety of securities. Investment in a unit trust/mutual
fund reduces the risk for the small investor.
Apart from stocks and shares there are many types of investment
opportunities available. When a company or government wishes to raise finance
it can issue bonds. These are securities offered at a fixed rate of interest. Bonds
issued by the government are called gilt-edged securities or gilts in the UK, and
treasury bonds in the US.
Derivatives or derivative instruments are financial products such as
futures, options and swaps. Futures are contracts that give the right to buy and
sell currencies and commodities at an agreed time in the future at a price agreed
at the time of the deal.
Options are contracts enabling the holder to buy a security at a fixed price
for a limited period. Swaps allow the exchange of one asset for another to suit
both parties.
198

collection, reduction, product, agreement, investor, holder, meaning,
earnings.

купівля товарів виробничого призначення; заробляти гроші; мета
інвестування; взаємний фонд; зменшувати ризик; інвестор; залучати
фінанси; випускати облігації; пропонувати цінні папери за фіксованою
процентною ставкою; гарантований цінний папір; купувати цінні папери за
фіксованою ціною; влаштовувати обидві сторони.
A B
objective obtainable
mutual fund possibility
reduce shareholder
gilts transaction
deal purchase
buy treasury bonds
investor decrease
opportunity unit trust
available target

disinvestment, to increase, domestic investment, obstacle, to forbid,
inaccessible.
analyse
unit trust add to
invest in
portfolio manage
make
gilts conclude
issue
199
deal trade in
Ex.6. Look at words and phrases in the box. Match them with the
1. a group of different investments held by a private investor, or a financial

organization;
2. an organization that manages a fund invested in a wide range of securities;
3. government securities with a fixed interest payable at regular intervals;
4. a bond issued by the US government;
5. goods, currency or securities that will be supplied or exchanged on an agreed
future date and for a price fixed in advance;
6. the right to buy or sell a fixed quantity of a commodity, currency or security
on a particular date at a particular price;
7. the exchange of business asset for another, instead of money;
8. a business agreement to buy or sell goods or provide a service;
9. an item such as a machine, a building, or a raw material that is used to
manufacture products for sale to consumers;
10. a person or an organization that buys property, shares, securities, etc. in
order to sell again to make a profit or to receive money in the form of interest
or dividends.

1. … are easier to manage because a group of people do the trading for you and
your money is spread among a variety of different investments.
2. In an attempt to raise finance, the company issued … to public investors.
3. You should diversify your investment … because you have all your money in
one stock.
4. Investing in a … reduces risk for small investors.
5. The … fell through, ie. no agreement was reached.
6. Our … ranges from shares in food companies to shares in the fashion world.
200
7. A … contract is an order that you place in advance to buy or sell an asset or
commodity.
8. More exotic financial products include … such as: options, futures and
swaps.
9. These oil shares were a good … .
10. People who own stocks and bonds are referred to as ….
11. A treasury … may be sold to any individual or corporation.
12. Government bonds are considered to be a safe… .
bond, investors, investment (2), derivatives, futures, deal,
unit trust, portfolio (2), shares, mutual funds.
Ex.8. Fill in the missing prepositions and adverbs.

1. You can expand your portfolio … investing … a wide range … stocks and
bonds.
2. Stockbrokers buy and sell stocks and bonds … their clients.
3. If the market is strong, expect a good return … your investment.
4. Mutual funds are managed … a group … fund managers who add all the
investor’s money together to invest … a variety of things.
5. If inflation remains low, he will make a huge return … his investment.
6. An investment bank is a firm that controls the issue … new securities.
7. Speculation … derivative instruments such … futures, options and swaps has
been criticized … its effects … the stock markets.
8. Portfolio is a selection … investments held … an individual or organization.
9. Securities issued … the British Government are called gilts or gilt-edged
securities.
10. Unlike a stock, a bond is evidence not … ownership, but … a loan … a
company or … a government.
(to (2), for, as, on (3), on behalf of, of (6), in (3), by (4))

1. What do we mean by “investments”?
2. What is the objective of investing?
3. What is portfolio?
4. What services do mutual funds provide?
5. What types of investment opportunities exist apart from the stocks and
shares?
6. What does the term “gilt-edged security” signify?
7. What are derivatives?
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8. What right do futures contracts give investors?
9. What kind of contract enables the holder to buy a security at a fixed price for
a limited period?
10. What do swaps allow?
a) investments and their objective;
b) unit trusts/mutual funds;
c) gilts/treasury bonds;
d) derivative instruments
Grammar Revision
Third Conditional
Form: if + past perfect, + would have + Participle II
Use:
We use the third conditional:
 to talk about possible situations in the past which didn’t happen
If you had followed my advice, you would have earned a lot of money. (but
you didn’t)
We can “mix” clauses from second and third conditional sentences (mixed
conditional) if we want to connect a possible past event with the present or
future.
If you had followed my advice (but you didn’t in the past), you would be
rich . (but you aren’t, now)
Ex.1. Choose the most suitable tense:

1. Why didn’t you phone me? If you phoned/had phoned me, I would have
reserved/had reserved a room for you.
2. If you organized/had organized your conference last month, I was able/would
have been able to take part in it.
3. If he lent/had lent me the money, I would pay/ would have paid him back last
week.
4. If you had been there at that moment, what would you do/would you have
done?
5. Why didn’t you say that you were short of money? If I knew/had known, I
would lend/would have lent you some.
6. She was so impatient. If she had been/ were more patient, she would
received/would have received everything she needed.
7. If I didn’t lose/ hadn’t lost my key, I wouldn’t have/ wouldn’t have had to
wait outside in the rain.
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8. If the traffic hadn’t been/ were not so heavy, we would arrive/ would have
arrived on time.
9. If I weren’t/ hadn’t been promoted then, I would leave/ would have left the
company.
10. If I hadn’t saved/ didn’t save enough money, I wouldn’t buy/wouldn’t have
bought this house.
11. If he didn’t gamble/ hadn’t gambled so much, he wouldn’t lose /wouldn’t
have lost all his money.
12. If I knew/ had known yesterday that you were coming, I would meet/ would
have met you at the airport.
13. You wouldn’t get / wouldn’t have got into trouble last time if you followed/
had followed my advice.
14. He never would buy/ would have bought shares in that company if you
didn’t recommend/hadn’t recommended him to do it.

1. If I had sold my shares then, I (make) a lot of money.
2. If you hadn’t taken so many risks, you (lose) so much.
3. If I had bought that lottery ticket, I (win) one million.
4. It’s a pity you missed the conference. If you (come), you (meet) American
scientists working in this branch of economy.
5. If the company hadn’t raised its funds, it (go) bankrupt.
6. If we hadn’t issued bonds, we (not raise) finance.
7. If I had known this great news, I (tell) you.
8. If I had sold my car a couple of years before, I (get) more money.
9. If I (not make) profit on my shares, I would have never bought this house.
10. If he had invested on the stock market, he (live) from the income.
11. If you contacted a stockbroker, he (give) you some very good advice.
12. If I were you, I (invest) on the stock exchange.
13. If he (work) alone, he would never have finished this work.
14. If he had known all the facts, he (help) us last Monday.
Ex.3. Finish these sentences using a mixed conditional.

1. If I had won the money, … .
2. If I had been better at English, … .
3. If I had only known about this earlier, … .
4. If he had consulted the stockbroker on time, … .
5. If he were an honest man, … .
6. If I knew her better, … .
7. If he had been more friendly, … .
8. If I had asked his permission, … .
9. If you had established a company of your own, … .
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10. If she had arranged for free food to be made available to all employees, … .
11. If we had signed an agreement, … .
12. If the new investment plan had been completed, … .
13. If our market share were much bigger than our competitors’, … .
14. If the company employees were not given the opportunity to travel abroad,
….

1. На вашому місці я б не хвилювався; вона знає які акції купувати.
2. Якби ви працювали сумлінніше, ви б давно завершили роботу над цим
проектом.
3. Якби я знав про цей контракт, я б переклав його ще на минулому тижні.
4. Якби ви проглянули старі фінансові звіти, ви б знайшли цікавий
матеріал для вашої доповіді.
5. Я б звільнив його, якби не знав, що він добре виконує свою роботу.
6. Якби я продав свої акції півроку тому, я б заробив багато грошей.
7. Якби я був на вашому місці, я б негайно купив гарантовані цінні папери.
8. Якщо компанія опинилася б у важкому фінансовому стані, ми б
втратили все наше майно.
9. Якби я знав про вашу пропозицію раніше, я б не погодився на цю
роботу.
10. Якби ви все зробили своєчасно, то цей вигідний для нашої фірми
контракт був би вже підписаний.
11. Якби смаки споживачів не змінювалися, торгівля б не розвивалася.
12. Якби на рекламу не витрачалося стільки грошей, то ми б відкрили нову
технологічну лінію.
GRAMMAR PROGRESS TEST III (CONDITIONALS)
Ex.1. Choose the correct answers:

1. If you didn’t help/hadn’t helped me, I would have /would have had financial
problems last month.
2. If you didn’t know /don’t know maths well, you will find/find accounting
difficult.
3. If you need /will need some money, I give/will give it to you.
4. If we did/had done it two weeks earlier, we would receive/would have
received big profit.
5. If I am /were you, I will /would apologize.
6. If I didn’t get/hadn’t got promoted, my salary wouldn’t go up/wouldn’t have
gone up.
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7. If he had been /were well paid, he won’t worry/wouldn’t worry about his
future.
8. If you won’t finish/don’t finish this work on time, you have to/ will have to
report to the manager.
9. If you accepted/had accepted these conditions then, you wouldn’t
make/wouldn’t have made any money at all.
10. If I had known/knew her address, I would give/will give it to you.
11. If she were/had been at the meeting, he would see/would have seen her.
12. If he will refuse/refuses to sign the contract, we try/will try to take urgent
measures.
13. I tell /will tell you the whole truth if you will promise/promise to keep it a
secret.
14. If I had gone/go to Spain next summer, I will change/will have changed
some money into traveller’s cheques.

1. What shall we do if he (be) late?
2. It will be a pity if you (not get) the job.
3. It will be better if you (use) my computer.
4. If you (come) late again, you (be fired).
5. If you (have) sense, you (buy) these shares a year ago.
6. If you (go) to a job interview, you should be well prepared.
7. If you (not buy) useless things, you (be able) to save more.
8. What you (do) if you (lose) your passport?
9. If I (not be) so busy, I (keep) her company.
10. If we (not advertise) our products, we (not succeed).
11. If you (ring) me yesterday, I (tell) you something very important.
12. If I (not be) so busy then, I (join) you.
13. He (not succeed) in such a risky business if he (not be) such a clever
entrepreneur.
14. If Unit Trusts (not put) investors' money into different companies, their risk
(be) much higher.

 Unit trust
 gilt-edged security
 futures
 options
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 swaps
Ex.2. If you’d like to raise capital would you invest your money in
government securities? Why? Why not?

of stocks and bonds as a form of investment.

1. I have to be careful how I spend my money. I don’t have money to burn.
2. There must be some way to raise enough money to buy a car. We’ve put all
our savings together but it isn’t enough. Still, there’s more than one way to
skin a cat. I’ll get a second job!
3. I need more work like I need a hole in the head.
4. The boss wasn’t happy with a few of his workers who had begun to leave the
office before quitting time. He was afraid they would fall into the habit of
leaving early if he didn’t nip it in the bud, so he told them they would have
to stop.
5. Let’s skip the small talk, and go straight to the nitty-gritty: what price do
you want for the car, and when will you be able to part with it?

“Future is purchased by the present.”
(S.Johnson)
LESSON 5
Text: Financial Statements

Grammar: Expressing Wishes and Regrets
financial statement  фінансовий звіт (компанії)

financial performance  фінансова діяльність (компанії)
compile (v)  укладати; збирати (матеріали
тощо)
auditor  аудитор; ревізор
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annual report  річний звіт
profit and loss account  звіт про прибутки та збитки;
(P&L)/income statement рахунок прибутків і збитків;
revenue  дохід; надходження; прибуток
expenditure  витрати; витрачання, видаток
turnover  оборот
balance sheet  баланс; балансовий звіт
mortgage  іпотека; застава; заставна
cash flow statement  баланс оборотних коштів (активів)
accuse (v)  звинувачувати (у чомусь-of)
window dressing  “прикраса вітрини”, “причісу-
вання балансу”; створення
враження високої ліквідності,
прикращання дійсного стану
справ
creative accounting  “творчий бухоблік” (методи
завищення прибутку в обліковій
практиці)
Financial Statements
A company and its shareholders need to know information about the

company’s financial performance. Companies give information about their
financial situation in financial statements. This information is compiled by the
company accountants and checked by independent auditors. The company’s
annual report consists of three financial statements:
 profit and loss account/P&L (BrE) or income statement (AmE) This
account shows the revenue (money coming into the business) and expenditure
(money going out). It also shows the company’s turnover (total sales), costs and
overheads.
 balance sheet This account shows the financial situation of the
company on a particular date, usually the end of the financial year. It consists of
a list of assets (cash investments, property and debtors – money owed by
customers) and liabilities (all the money that the company will have to pay out,
such as taxes, mortgage and money owed to suppliers). Firms in a good situation
are said to have a strong balance sheet and those that are not, a weak one.
 cash flow statement This document shows the flow of cash in and out
of the business. It includes sale of assets, issuing of shares, payment of
dividends, trading profits and many other activities.
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When company’s accounts are presented in a way that makes performance
look better than it really is, the company may be accused of window dressing or
creative accounting.

perform, inform, supply, pay, act, present, accuse, audit, account (for).

фінансовий звіт компанії, акціонери, фінансова діяльність компанії,
бухгалтер, незалежний аудитор, річний звіт, звіт про прибутки та збитки,
доходи та витрати, накладні витрати, балансовий звіт, активи та пасиви,
майно, податки, застава, постачальники, баланс оборотних коштів, продаж
активів, виплата дивідендів.
A B
account expenditure
check gain
revenue creative accounting
window dressing blame
accuse income
profit verify
expenses report

profit; assets; a strong balance sheet; to look better; to absolve.
Ex.5. Match the nouns in left-hand column with the verbs in

the right-hand column.
apply for
arrange
annual report pay off
present
revenue produce
publish
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mortgage increase
reduce
provide
1. a person who keeps records and provides information about a company’s or

person’s money;
2. a person who examines the accounts of an organization to check they are true
and correct;
3. a report, containing financial results, presented each year by the directors to
the members and shareholders of a company;
4. a summary list of income and expenses for a business;
5. money received from the sale of goods or services;
6. an amount of money spent;
7. the total business done by an organization in a given period;
8. a long-term loan from a bank for buying property, which is used as security;
9. accounting which follows the literal rules of legislation and accounting
standards but succeeds nevertheless in presenting an unduly favourable
picture of a company’s position or progress;
10. statement of what a company owns, or assets, and owes or liabilities.

1. My … prepares my tax returns every year.
2. The … were called to inspect the accounts.
3. The government has a huge need for tax … .
4. The company has made several big … on new equipment.
5. That company has a $10 million a year … .
6. The flat was bought with a $100,000 … .
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7. The majority of the government’s … comes from taxes.
8. The company won’t be able to increase … on technology in the coming year.
9. Financial accounts give information about financial … of a company.
10. Analysis of our … during the last year shows that approximately one third of
our revenue came from the Asian markets.
11. The accountant prepared the company’s … for the year.
12. The … in our company is good because we take in much more money than
we spend.
cash flow, balance sheet, performance (2), expenditure, mortgage,
turnover, expenditures, revenue (2), auditors, accountant.
An annual report is prepared … the management … a company whose
stock is traded publicly. It contains written and financial statements … the
progress … the company in the previous financial year. An annual report
performs a useful function … a free market system, transmitting information …
the company … its shareholders and investing public. Although the report is
addressed … shareholders, other people who have a stake … the business –
stakeholders such as employees, suppliers, customers, and lenders – will find it
informative. Such a report acts as good public relations … the company.
(to (2), from, in (2), of (2), by, about, for)

1. Who compiles the information about the company’s financial performance?
2. Who is this information checked by?
3. What does the company annual report consist of?
4. What is the purpose of an annual report?
5. What does the income statement show?
6. What does the balance sheet include?
7. When do firms have a strong balance sheet?
8. What is cash flow statement?
9. When may the company be accused of window dressing or creative
accounting?

 profit and loss account;
 balance sheet;
 cash flow statement.
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1. Акціонери повинні володіти всією інформацією про фінансову
діяльність компанії.
2. Звіт про прибутки та збитки показує дохід та витрати компанії.
3. Активи та пасиви компанії представлені у балансовому звіті.
4. Річний звіт готується менеджментом компанії.
5. Цей незалежний аудитор – досвідчений фахівець.
6. Показники балансового звіту свідчать про гарний фінансовий стан
компанії.
7. Аналіз фінансової діяльності нашої фірми за останній рік свідчить, що
близько 1/3 наших прибутків було отримано від європейських ринків.
8. Ми не зможемо збільшити наші витрати на нові технології в цьому році.
9. Вони повинні були продати всі активи для того, щоб розплатитися з
боргами.
10. Бухгалтер нашої фірми був звинувачений у “причісуванні балансу.”
Grammar Revision
Expressing wishes and regrets

 To wish can be used as a simple verb:
I wish you a Happy New Year.
 wish + could or past simple/ continuous is used to talk about something
you would like to be different, but can’t change.
I wish I could speak Italian fluently!
 wish + past perfect is used to express past regrets
I wish I had attended that conference.
 wish + would is used to express annoyance at the habits of others.
I wish you wouldn’t take my car!
Ex.1. Complete these sentences using the correct form of the verbs in
brackets.
1. I wish I (have) enough money to buy this house.
2. I wish I (reserve) a hotel beforehand.
3. I wish he (establish) his private company.
4. I wish I (take) that job in the marketing department.
5. He wishes he (go) on holiday with his friends.
6. She wishes she (be) more careful.
7. They wish they never (get) married.
8. I wish I (not accept) his invitation.
9. She wishes she (not leave) her last job.
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10. I wish he (not interfere) with my possessions.
11. I wish nothing (happen).
12. I wish you (not think) so.
13. I wish you (not smoke) indoors.
14. I wish she (take) the chance.

1. Шкода, що ви не знаєте цієї інформації.
2. Шкода, що ви не подумали про витрати фірми.
3. Шкода, що ми не застрахували наш товар.
4. Шкода, що ви не мали часу тоді.
5. Шкода, що ти не підтримав його.
6. Шкода, що ви не вивчили річний звіт ретельно.
7. Шкода, що фінансовий звіт нашої компанії ще не перевірено.
8. Шкода, що ваші витрати перевищують ваші прибутки.
9. Шкода, що наш бухгалтер звільнився.
10. Шкода, що ви не попередили його заздалегідь. Він би вирішив вашу
проблему.
11. Шкода, що ці фактори впливають на фінансовий стан нашої компанії.
12. Шкода, що ми ще не в змозі повністю задовольняти потреби наших
клієнтів.
13. Шкода, що попит на цей товар перевищує пропозицію.
14. Шкода, що ви витратили так багато грошей на рекламу цієї послуги.
Ex.1. Discuss with your groupmates the importance of the financial

statements:
 what information you could learn from studying a firm’s balance sheet;
 what information an income statement gives you;
 what cash flow statement shows.
Ex.2. The Profit and Loss Account and Balance Sheet are two important
documents used in preparing financial statements. Which of the
following is a definition of a Profit and Loss Account? Which
defines a Balance Sheet?
 Statement showing income and expenses resulting from trading over a period
of time
 Statement of financial position at a specific point in time
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Ex.3. You are to report on the financial performance of the company.
What information will you use? Why?

1. The president assembled a blue ribbon panel of experts to study the
problem.
2. The businessmen were given the red-carpet treatment by the small town.
The small town wanted to impress them in the hopes that they would decide
it was a good place to build a factory.
3. You can stop hinting that you don’t want my company. I got the message. I
won’t bother you again.
4. Jan invested all her money in the playwright’s new play. She was taking a
real chance. She was going for broke. If it were a success, she would be
rich. If it were a flop, she would be penniless.
5. The fast food restaurant’s new chicken sandwich went over with a bang.
Everyone was asking for it.
“One can accumulate enough wealth to buy a golden bed, but one cannot
buy sound sleep with money.”
(Danial Arap Moi)
LESSON 6
Text: Bankruptcy
Grammar: Modal Verbs (Ability. Permission)
bankruptcy  банкрутство
be in a state of insolvency/ be  бути неплатоспроможним
insolvent
creditor  кредитор
bankrupt  банкрут
go bankrupt/ go bust (v)  збанкрутуватися
rescue (v)  рятувати
go into liquidation/into  збанкрутуватися
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receivership (v)
receiver / administrator/  ліквідатор; офіційна особа, яка
liquidator призначена судом для ліквідації
компанії-банкрута
pay off the debts (v)  розрахуватися з боргами
failing company  проблемна компанія; компанія,
що зазнає ускладнень; компанія
на межі банкрутства
voluntary liquidation  добровільна ліквідація
on the verge of (bankruptcy)  на межі (банкрутства)
Bankruptcy
While some companies perform well and expand, others are less
successful and may have to go out of business.
When a person or business is unable to pay its debts they are considered
to be in a state of insolvency or to be insolvent.
If the creditors, the people who are owed money take the matter to the
court, the person or company is declared bankrupt. A company is then said to
go bankrupt or to go bust.
Receivers are specialised accountants who are appointed by the court to
find someone to rescue the company. If a company cannot be rescued, it goes
into liquidation (into receivership).
The receivers, administrators or liquidators are specialists who are
appointed to sell the company's assets and pay off the debts to creditors.
Another option is for the failing company to go into voluntary
liquidation and appoint its own liquidator. When a company is on the verge of
bankruptcy it should stop trading.

unable, successful, insolvent, failing, voluntary, administrative, optional,
bankrupt.

бути неплатоспроможним; кредитори; оголосити компанію
банкрутом; збанкрутуватися (3); призначати ліквідаторів; рятувати
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компанію; розрахуватися з боргами; добровільна ліквідація компанії; на
межі банкрутства; проблемна компанія.
similar meaning.
A B
bankrupt save
appoint liquidator
voluntary go bust
option optional
go bankrupt alternative
receiver designate
rescue insolvent

voluntary, bankruptcy, successful, to go out of business, debtor, to
dismiss.
Ex.5. Match the nouns in the left-hand column with t he verbs in the
right-hand column:
bankrupt be put into
go into
insolvency become
go
liquidation avoid
declare
Ex.6. Complete the following sentences with either "bankrupt" or

"bankruptcy".
1. Years of mismanagement had left the region virtually … .
2. Several local companies have gone … .
3. The firm I work for is facing … .
4. The company is … .
5. Many of the companies that they had invested in went … .
6. … can be involuntary or voluntary.
7. The recession led to a flood of … .
8. The company declared … in 2006.
9. Involuntary … is initiated by creditors.
10. The newspapers accused the government of being … in ideas.
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1. the state of being unable to pay your debts;

2. a person or an organization that you owe money to;
3. the person appointed by the court to close a company and dispose of its
assets;
4. to become bankrupt;
5. to save someone or something from prison, danger, etc.
6. the closing of a company that has stopped trading, usually because it has
gone bankrupt;
7. a bankruptcy procedure initiated by an individual or business that can no
longer meet its financial obligations;
8. a bankruptcy procedure initiated by creditors.
Ex.8. Find words in the text which have a similar meaning to the
informal words and phrases listed below:
 go under;
 go to the wall;
 crash;
 fold;
 collapse.

1. The firm I work for is facing … .
2. Several local companies have gone … .
3. The owner of the small business became … during the recession.
4. The company has gone bankrupt and can’t pay its … .
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5. One of the company directors was appointed … .
6. The company has decided to take … .
7. It will take years … all his debts.
8. His company is … bankruptcy.
9. Small businesses in Great Britain are currently … at a rate of one every six
minutes.
10. Their business is so unsuccessful. I think they are considering … .
going bust, on the verge of, to pay off, voluntary liquidation (2),
liquidator, creditors, insolvent, bankrupt, bankruptcy.

Insolvency
Insolvency is the condition … being unable to meet debts. A company is
insolvent when it is unable to meet the demands … all its creditors … selling all
its assets … cash. … such a situation, the creditors would apply … the business
to be wound up, and ask … a liquidator to be appointed who could dispose …
the assets and pay … the creditors where possible. The company would stop
trading, and when the winding … is complete, cease to exist.
Notes:
to wind up – ліквідувати (компанію)
to cease – припиняти (ся)
(of (3), by, for (3), in, up, off)

1. What may happen to less successful companies?
2. When is a business considered to be in a state of insolvency?
3. Who are creditors?
4. When is the company declared bankrupt?
5. Who are receivers?
6. What happens to a company if it cannot be rescued?
7. What are liquidators appointed for?
8. Does the failing company have any option?
9. What should the company do if it is on the verge of bankruptcy?
10. What is voluntary liquidation?
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Ex.2. Sum up what you remember about a bankruptcy procedure. Who
can it be initiated by?
Grammar Revision
Modal Verbs
A. Ability: can, could, be able to
1. Can and cannot/can’t are commonly used to talk about ability to do
something in the present.
He can speak several foreign languages.
2. To talk about someone’s general ability to do something in the past we use

could and someone’s specific ability (to do something on one occasion) –
was/were able to
I could read when I was five.
I was able to see personnel manager without an appointment.
3. To talk about ability with perfect and future forms, the be able to structure is
used.
Will you be able to send this fax?
B. Permission: can, could, may, be allowed to
1. a) Can and could are used to ask for permission in the present. May can be
also used but is quite formal.
Could/ Can I call you back?
May I use your phone, please?
b) When talking about whether something is permitted or not we use can/
can’t and be (not) allowed to.
Passengers are not allowed to smoke during take-off.
You can leave your letter at the reception.
2. To talk about permission in the past we use could/ couldn’t and was/ were
not allowed to.
We were not allowed to ask any questions.
3. When talking about permission with future and perfect forms be allowed to
is used.
He will not be allowed to invest in this business.
Ex.1. Complete these sentences using can, could, may and be able to, or
be allowed to in the correct form.
1. When I pass my driving test, I ______ hire a car.
2. When he first came to London, he ____ read English but he (negative)
______ speak.
218
3. When we were in the old office, we ______ access all the files.
4. This sweater was priced at $ 50, but I _______ get a discount because of this
little mark on the sleeve.
5. Students _______ bring notes into the exam tomorrow.
6. My sister never ________ to travel alone.
7. ______ I send him a message? He is at the meeting at the moment.
8. ______ you phone the boss today?
9. He _______ solve this problem yet.
10. “Could I borrow your car? No, you _______.”
11. Who _______ appoint the receivers to find someone to rescue the company?
12. _______ he pay off the debts of the company?
13. I’ve been looking for your papers but I ______ find them yet.
14. If he doesn’t tell me what his problem is, I ______ (negative) help him.
15. She ______ to raise money for her failing company.

1. Я б із задоволенням прийняв ваше запрошення, але я не можу відмінити
свою зустріч.
2. Якщо він щось вирішив, то ніхто не може на нього вплинути.
3. Я дуже ціную вашу допомогу. Я знав, що я можу довіряти вам.
4. Чи можу я сказати йому всю правду? Я впевнений, що він нічого не знає
про важкий фінансовий стан компанії.
5. Коли я там працював, то тільки головний менеджер міг підписувати такі
документи.
6. Працівникам нашої компанії не дозволяється палити в офісах.
7. Тільки суд може призначити ліквідаторів неплатоспроможної компанії.
8. Ця компанія на межі банкрутства; їй не дозволяється працювати з
клієнтами.
9. Ви можете залишити всю інформацію у секретаря.
10. Їм не дозволили відстрочити платежі.
11. Якщо ви зможете врятувати цю компанію, ви отримаєте подяку від
президента.
12. Якщо вони не зможуть розрахуватися з боргами протягом місяця, їх
оголосять банкрутами.

 how voluntary bankruptcy is different from involuntary bankruptcy;
 how bankruptcy is initiated and resolved.
219
Ex.2. Go to the library and research a firm that is presently in
bankruptcy. Describe the type of bankruptcy and trace the major
activities of the firm since the day the bankruptcy papers were
filed with a bankruptcy court.

1. Our new office manager needs to get organized and get some work done. For
two weeks, she’s just been spinning her wheels.
2. In order to accomplish our goals and succeed, everyone in the company has
to put their shoulder to the wheel.
3. John had to wheel and deal to get the new contract signed.
4. When we decided to develop this product, our first goal was to create
something original and innovative. We did not want to reinvent the wheel.
5. He lost his job but landed on his feet by finding a better one.

“The shortest way to do many things is to do only one thing at once.”
(Samuel Smiles)
TEST 4 (UNIT IV)

1. The property of a company, person etc. that has value and can be sold to pay the debts.
a) liquid profits b) liquid liabilities c) liquid assets
2. Money spent regularly to keep a business running.

a) overheads b) costs c) profit
3. General term used for all types of stocks and shares.

a) investment b) income c) securities
4. Reduced in value (about currency).

a) devalued b) cheap c) declined
5. Money owed by a company; a debt.

a) assets b) liabilities c) costs
6. Money that is owed to a business.

a) reception b) receivership c) receivables
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7. An amount of money spent.

a) income b) expenditure c) loss
8. A sum of money paid into a bank.

a) departure b) deposit c) debt
9. Buildings and the land they occupy.

a) precaution b) premium c) premises
10. The amount of money moving into and out of a business at a particular point in time.
a) cash flow b) cash sale c) cash deal
11. A rise in prices and lowering of currency's value.

a) injunction b) inflation c) insolvency
12. Offering company shares for sale to the public or on a stock exchange for the first time.
a) share register b) share splitting c) share flotation
13. A person or an organization that lends money and charges interest on the repayments.
a) tender b) lender c) licensor
14. A market where the general level of share prices is falling.

a) target market b) bear market c) bull market
15. A person or organization that buys and sells stock and shares.
a) stockbroker b) dealer c) market-maker
16. Contracts that give the right to buy and sell currencies and commodities at an agreed time in the future at a
price agreed at the time of the deal.
a) options b) futures c) swaps
17. A group of different investments held by a private investor, or a financial organization.

a) gilts b) treasury bonds c) portfolio
18. A long-term loan from a bank for buying property, which is used as security.
a) turnover b) revenue c) mortgage
19. A summary list of income and expenses for a business.

a) cash flow statement b) income statement c) balance sheet
20. A person who examines the accounts of an organization to check they are true and correct.
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a) auditor b) accountant c) administrator
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UNIT V ACCOUNTING
LESSON 1
Text: The Field of Accounting

Grammar: Modal Verbs. Obligation and
Necessity
record (v)  реєструвати; фіксувати

growth  зростання
decline  занепад
certified public accountant (AmE)  дипломований бухгалтер вищої
/chartered accountant (BrE) кваліфікації; бухгалтер-ревізор
private accountant  приватний бухгалтер
handle (v)  мати справу з (чимось)
financial records  фінансова документація,
фінансові звітні матеріали
(документи)
government accountant  урядовий бухгалтер
monitor (v)  контролювати, перевіряти,
спостерігати
receipt  одержання
layoff  звільнення (звич. під час
скорочення виробництва),
скорочення персоналу
work load  робоче навантаження
Remember the difference:

Accounting is a comprehensive information system for collecting,
analyzing and communicating financial information.
Bookkeeping is just one phase of accounting – the day-to-day recording
of accounting transactions.
The Field of Accounting
Accounting offers the qualified person an opportunity to move ahead

quickly in today’s business world.
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UNIT V THE FIELD OF ACCOUNTING
Accounting is a basic and vital element in every modern business. It
records the growth or decline of the business.
The field of accounting is divided into three broad divisions: public,
private and governmental.
A certified public accountant (CPA) – AmE or a chartered accountant
– BrE must pass a series of examinations, after which he or she receives a
certificate. The simple fact of having passed the certifying examination gives
them an advantage over those who haven’t.
CPAs can offer their services to the public on an individual consultant
basis for which they receive a fee. Some CPAs perform work for firms,
corporations or government offices and receive a salary.
Private accountants, who are employees of individual businesses, handle
the financial records of a business. They are responsible for preparing the
financial statements and are salaried rather than paid a fee.
Government accountants are employed by governmental agencies. They
are responsible for monitoring the receipt and payment of funds. All of these
accountants work on a salary basis.
Salaried positions with business or government offer strong security, since
salaried accountants are not affected by layoff or seasonal changes in the work
load as are industrial or clerical workers.

qualify, grow, divide, certify, examine, consult, employ.
Ex.2. Some words change their stress when they change their
part of speech. Underline the stressed syllable in these
words.
to employ the employee
to record the record
to examine the examination
to certify the certificate
to qualify the qualification
to govern governmental

бухоблік; дуже важливий елемент в сучасному бізнесі; реєструвати
зростання чи занепад бізнесу; дипломований бухгалтер вищої кваліфікації;
отримати сертифікат; пропонувати послуги; отримувати гонорар;
229
отримувати заробітну плату; мати справу з фінансовою документацією;
готувати фінансовий звіт; одержання фондів; звільнення; зміни у робочому
навантаженні.
A B
layoff benefit
vital hire
growth get ready
decline payment
perform obtain
receive accomplish
salary deterioration
prepare expansion
employ essential
advantage fire

decline; employer; employ; advantage; qualified; to fail an examination;
to receive a fee; private accountants.
Ex.6. Match the nouns in the left-hand column with the words
in the right-hand column. Translate the phrases into
Ukrainian.
of funds
of goods
of a licence
of an order
of payment
accounting of a credit
of competitive offer
of a consignment
statistical
business
chinese
receipt financial
banking
cost
income
management
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payroll
salary
1. the recording, classifying, summarizing, and interpreting of those business

activities that can be expressed in monetary terms;
2. an accountant who has passed examinations required by the state licensing
officials;
3. the systematic recording of financial information;
4. a specilized branch of accounting that deals with government agencies;
5. a dismissal from employment, esp. temporary;
6. financial documents or computer files on which information is stored;
7. an amount of work to be done;
8. the profession of or work done by an accountant;
9. a period at the end of which the totals for the money coming into and money
going out of a business are calculated.

1. There was … in US exports overseas last year.
2. … in the stock market scared investors.
3. She … all the financial records for the law firm.
4. The boss … the quality of her employees’ work.
5. In a recession, there are often mass … of factory workers.
6. … does the accounting for a business.
7. We calculated the total profit at the end of the … period.
8. My friend got a degree in … .
9. The cash register … the purchase and printed a receipt.
10. In Great Britain, the term for CPA is … .
11. Private and government accountants usually work on a … basis.
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12. CPAs who offer their services to the public on an individual consultant basis
are paid … .
fees, salary, chartered accountant, recorded, accountancy,
accounting, a CPA, layoffs, monitors, handles, the decline, a
growth.

It is difficult … a firm to plan … the future when the managers do not
know where the firm stands financially. Accounting is the primary means …
which financial information … a firm is communicated. Accounting can provide
answers … interested persons both … the firm and … the firm. The balance
sheet and the income statement are two basic statements used … making many
decisions concerning a firm’s operations. … analyzing these two statements, a
firm can answer many questions … its profitability, short term financial
position, activity levels, and long-term debt obligations.
Business firms may hire their own private accountants, or they may use
the services … a public accounting firm.
(of, for (2), by (2), about (2), in, to, within, outside)

1. What does accounting offer a qualified person?
2. Why is accounting a basic and vital element in every modern business?
3. What is the field of accounting divided into?
4. What is a certified public accountant? What is the British equivalent?
5. What do CPAs receive fees for?
6. Who can CPAs perform work for?
7. What are private accountants responsible for? Are they paid a fee?
8. What areas does a government accountant deal with?
9. Why do salaried accounting jobs offer security?
10. Do CPAs have any advantages over other accountants?

 CPAs;
 private accountants;
 government accountants.
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Grammar Revision
Modal Verbs. Obligation and Necessity.

must, have to, should, ought to, need
1. a) Must is used for strong obligations:
 rules or laws
Investors must pay taxes.
 advice or recommendations
You must take your medicine regularly if you want to get better.
 obligations that the speaker imposes on him or herself
I must get up early tomorrow.
b) Mustn’t is used to express strong disapproval, or that something is
prohibited
You mustn’t smoke.
2. a) Have to is used when the obligation comes from someone else or an
external authority.
You have to wear a uniform – that is the company rule.
b) Don’t have to is used to express the idea that there is no law, rule or
requirement to make you do something.
I don’t have to get up early on Sundays.
3. a) Need, need to is used to talk about necessities, rather than obligations
I need to get my hair cut.
b) Needn’t expresses the speaker’s opinion that something isn’t necessary
You needn’t fill in the form; the receptionist will do it for you.
4. Should, ought to are used to express milder obligations; they are often used
when giving advice
You should always keep receipts when you buy clothes.
Ex.1. Complete these sentences using the correct form of must, have to,
need, should, ought to.
1. You ________ not worry about the article. – I’ll translate it later.
2. The drivers in Ukraine ______ wear seat belts.
3. You _______ have medical insurance when you go abroad.
4. You _______ to buy a licence if you want to set up your own business.
5. The customers ________ not pass this point.
6. They _______ to transfer money yesterday.
7. A CPA _______ pass a series of examinations, after which he receives a
certificate.
8. You ______ have the financial statement ready by the end of the month.
9. He ______ invite her to the meeting.
10. You _______ to fill in this application form.
233
11. You _______ to consult an expert to identify this document.
12. You ______ not take a car to get to the office. I’ll gladly give you a lift.
13. He ______ to send a letter of apology.
14. This is serious, he ______ not joke about it.
15. My boss was ill and I _______ to attend that press conference.
16. They ______ follow his advice.

1. Керівництво встановлює правила, а ви повинні виконувати їх.
2. Ціна на цей новий товар дуже висока. Ви повинні знизити її.
3. Я вважаю, що він повинен піти у відставку після цього засідання.
4. Почекай трошки, я повинен продивитися ці документи.
5. Тобі не слід втручатися в цю брудну справу.
6. Йому довелося відповісти на багато запитань після засідання Ради
Директорів.
7. Йому не слід нехтувати твоїми корисними порадами.
8. Ви повинні вивчити попит споживачів перш, ніж розпочинати
виробництво цієї продукції.
9. Тобі потрібно допомогти їй. Вона ще ніколи не складала фінансовий
звіт.
10. Коли я змінив роботу, я змушений був переїхати на іншу квартиру.
11. Офіціанти повинні сплачувати податок на гроші, які вони одержують
від клієнтів.
12. Ви повинні приходити на роботу вчасно.
13. Ви повинні відправити цей факс негайно.
14. Ти не повинен розмовляти з покупцями таким чином.
Ex.3. Make up sentences about your university environment. Your

sentences should describe:
 obligation
 prohibition
 no necessity to do something
Ex.1. Explain why accounting is a basic and vital element in modern

business.
234
Ex.2. Speak about some of the qualifi-cations, both technical and
personal, that you think an accountant must have in order to
achieve success in his or her field.

of a career in accounting.
Ex.4. Familiarize yourself with the following idioms, consult your

1. I don’t believe the company made that profit. Peter has been cooking the
books so that he can get a good price for the business.
2. Mr. Brown had to foot the bill for his son.
3. I’ll be hanging up my boots next year. I think I deserve a rest after running
the business for thirty years.
4. I can see you have set your mind on taking the job, so I won’t try to
dissuade you.
5. I warned you that the idea would never work; what a pity you wouldn’t
listen to reason.

“When two men in business always agree, one of them is unnecessary.”
(Anonymous)
LESSON 2
Text: Budgeting
Grammar: Modal Verbs. Certainty, Possibility,
Probability.
budget for, v  планувати майбутні прибутки і витрати

budgeting  складання бюджету
motivate (v)  спонукати
operating plan  виробничий план
anticipate (v)  очікувати; передбачати
primary  основний; найважливіший
framework  рамки; межа; структура
235
fiscal year  бюджетний рік; фінансовий рік
arbitrarily  довільно; випадково
master budget  головний бюджет, загальний бюджет
control device  контрольний засіб, стандартний план
діяльності бізнесу
Budgeting
All companies have to budget for, or plan, their costs and have a budget.
The preparation of a budget is an important aspect of a company’s
success. The preparation of it helps management to establish short-term and
long-term goals and standards for the company, motivates employees to achieve
company goals, provides for a systematic review of performance. The success of
the budgeting process depends on the cooperation of all employees.
Budget (of a business) is the financial operating plan for an organization
for a fixed period. The budget shows what income is anticipated and how the
resources will be used during the budget period. It is a forecast used by a
business to plan and control.
The primary objective of the budget is to establish a financial framework
for the operations of the business. The accounting period for the budget is
usually either the calendar year or the fiscal year. The fiscal year is any
arbitrarily chosen twelve-month period that does not correspond to the calendar
year.
The total of separate budgets from different departments within a
company that shows in detail how the entire business operates is called master
budget. As the business year progresses, management can use the budget as a
control device that permits monitoring of the company’s operations.

prepare, establish, motivate, achieve, cooperate, operate, anticipate,
permit.

успіх компанії; встановлювати довгострокові цілі; процес складання
бюджету; встановлений строк; прибуток; прогноз; найважливіша задача;
бюджетний рік; головний бюджет; використовувати бюджет як
контрольний засіб; контролювати роботу компанії; виробничий план;
бюджетний період.
236
A B
operate sum
goal main
progress expect
achieve definite
systematic reach
fixed regular
anticipate allow
primary objective
permit function
total develop

short-term; periodic; failure; expenditure; secondary.
Ex.5. Study the following phrases. Translate them into Ukrainian.

ad budget, annual budget, approved budget, consumer budget, current
budget, deficit-free budget, household budget, low budget, master budget,
operating budget, overall budget, surplus budget.
in the right-hand column. Translate the phrases into
Ukrainian:
carry out
negotiate
offer
the budget prepare
realize
revise
submit
draw up
the financial operating plan cut
increase
reduce
set
approve
pass
237
1. a plan of expected income and expenditure for a particular period of time;

2. the total of separate budgets from different departments within a company;
3. a standard plan for the performance of a business by which its operations
may be measured and regulated;
4. a statement about what one thinks will happen in the future;
5. related to a 12-month period of business activity;
6. the people who control a company;
7. an aim or target;
8. the main internal workings of business.

1. The financial director is responsible for the firm’s … .
2. … involves setting financial goals and standards for an enterprise.
3. Our company’s … is the calendar year, January 1 to December 31.
4. The new channel will be launched with a $3 million promotional ….
5. A desire to go to business school … her to study mathematics hard.
6. She was given a … of € 25 000 to launch the magazine.
7. In the UK, the government’s … runs from 6 April to the following 5
April.
8. Our financial manager will calculate the total profit at the end of the …
period.
9. The boss … the quality of her employees’ work.
10. The … of this month’s sales is up 20 %.
11. The company … for a 5% increase in sales.
total, monitors, accounting, financial year, motivates,
budgeted for, budget (2), fiscal year, budgeting, budgets.
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Budgeting
Budgeting is the process … preparing budgets and exercising budgetary
control. Budgeting encourages forward thinking … managers; serves to help
coordinate different functions and departments … the firm. It defines the
responsibilities … individual managers, provides a framework … delegating
responsibility; and provides an instrument … control; and a basis … modifying
plans, where necessary.
(of (2), by, in, for (3)

1. What does "to budget for" mean?
2. What is a budget? What does it show?
3. Why is the preparation of a budget an important aspect of a company’s
success?
4. What is the primary objective of the budget?
5. What is the customary accounting period for the budget?
6. What is a master budget?
7. What can a master budget be used for?
8. What is a control device?
9. What does the success of the budgeting process depend on?

 a budget and budgeting;
 the fiscal year;
 a master budget.

Державний бюджет
Державний бюджет – це план формування та використання ресурсів
для забезпечення завдань і функцій центральними та місцевими органами
влади. Він є важелем впливу на національну економіку та відображує
економічну ситуацію в країні. Бюджет є планом того, які види діяльності
мають фінансуватися, скільки коштів буде витрачатися на оборону,
охорону здоров’я, освіту, соціальні послуги та на інші програми.
У періоди економічного зростання з’являється більше робочих місць.
Держава має можливість фінансувати більше програм.
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Grammar Revision
Modal Verbs
Certainty, Possibility, Probability
must, may, might, could, can’t, should, ought to

1. We use must or can’t + infinitive to say we are certain about something; we
have some evidence to reach this conclusion.
We use must to indicate “positive” certainty and can’t to indicate
“negative” certainty.
We don’t use mustn’t or can to talk about certainty.
She must be very happy. She has finished her experiments.
That can’t be our business partner. He is arriving tomorrow.
2. We use may, might or could + infinitive when we are speculating that
something is possible.
She may/might/could pass her exam this time. (It’s possible that she will
pass her exam)
3. We use should and ought to + infinitive to show that something is probable
now or in the future.
He should/ought to pass his exams.
(He will probably pass)
Ex.1. Complete the following sentences with an appropriate modal

verb form.
1. You _____ be joking. The house is not worth that much.
2. It’s not a good time to visit Italy. The weather ______ be awful at this time of
the year.
3. She _____ be ill; She looks so pale.
4. It _____ be true.
5. You ______ see interesting samples at the exhibition.
6. It ______ be late as the offices are closed.
7. This contract ______ to be profitable.
8. It’s impossible. It ______ be the correct answer.
9. She ______ be at home. I saw her in the office 10 minutes ago.
10. I ______ have some new information for you tonight.
11. He has been working all day. He ______ be very tired.
12. There ______ be another rise in the price of sugar soon.
13. He _____ get this job. He has got all the necessary qualifications.
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14. I am not sure whether I can help you. I ______ not have enough time.

1. Не може бути, щоб ви знали всіх її співробітників!
2. Мабуть вона працює над річним звітом.
3. Я не буду заважати тобі. Мабуть у тебе є важливі справи.
4. Я зайду в наш офіс. Бос повинен зараз бути там.
5. Навряд я зможу скласти цей звіт.
6. Бухгалтера немає, він повинен бути у керівництва фірми.
7. Ви напевне затвердите бюджет завтра.
8. Мабуть успіх компанії буде залежати від наполегливої праці кожного з
нас.
9. Мабуть вона дуже щаслива. Рада Директорів затвердила її проект.
10. Не може бути, щоб ви ще працювали над бюджетом!
11. Вже 2-га година. Він може повернутися у будь-яку хвилину.
12. Я не знаю достеменно, але лист можливо зараз у неї.
13. Хоча вже й пізно, він, можливо, все ще очікує нашої інформації.
14. Я нічого не чув про нього. Мабуть він де-небудь за кордоном чи вже
повернувся до Києва.
Ex.1. Discuss the importance of a budget for the company and the
consequences that might result from its absence.

1. We spent days working on a solution but it led us up a blind alley.
2. I shall sugar the pill by sending John on a week’s paid holiday before I make
him redundant.
3. I was offered quite a well-paid job, but the work wouldn’t have been my cup
of tea.
4. We need to rethink our plan in light of this new information.
5. With the drop in sales, the company cut the number of employees to the
bone.

“It is easier to forgive an enemy than a friend.”
(Anonymous)
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LESSON 3
Text: Auditing
Grammar: Modal Verbs with the Perfect
Infi nitive
auditing  здійснення аудиту; перевірка

звітності; ревізування
review  перевірка; перевіряти
evaluation  оцінювання, оцінка; аналіз (даних)
audit  аудит; перевірка, ревізія;
аудиторська перевірка фінансових
операцій
auditor  аудитор, бухгалтер-ревізор
outside/external/independent  зовнішній аудит
audit
internal audit  внутрішній аудит
accounting department  бухгалтерія
fiscal affairs  фінансові справи
the standard operating  стандартні методи роботи
procedures
books  бухгалтерські книги
accounting records  бухгалтерські рахунки,
документація
accurate  точний, правильний
adequate  що відповідає вимогам,
відповідний, компетентний
accessible  досяжний, доступний
Auditing
Auditing is an accounting function that involves the review and

evaluation of financial records of a company. It is done by auditors. These
reviews are called audits.
Outside/external audits are a normal and regular part of business
practice. In addition, many corporations maintain a continuous internal audit
by their own accounting departments. They review operating procedures and
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financial records and report to management on the current state of the
company’s fiscal affairs. The internal auditors make suggestions to
management for improvements in the standard operating procedures and
check the accounting records.
Independent auditing is done by accountants who are not employees of
the organization whose books they examine. The independent accountant is
almost always a CPA. Independent accountants review the business’s operating
activities; they examine financial statements and the accounting records. An
audit can take several days, even for a fairly small company.
Management must act upon the information in the financial records; the
auditor ensures that this information is accurate, adequate, and accessible.

evaluate, improve, examine, act, inform, organize, manage.
1. review a) noun b) verb
2. record a) noun b) verb
3. audit a) noun b) verb
4. practice a) noun b) verb
5. report a) noun b) verb
6. check a) noun b) verb
7. book a) noun b) verb
8. state a) noun b) verb

перевірка та аналіз фінансових документів, аудитор, зовнішній
аудит, внутрішній аудит, бухгалтерія, фінансові справи компанії,
перевіряти бухгалтерську документацію, перевіряти бухгалтерські книги,
стандартні методи роботи, точна інформація.
a similar meaning.
A B
outside audit uncontrolled
review process
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evaluation sufficient
check achievable
accurate examination
adequate correct
accessible examine
procedure analysis
independent external audit

incorrect, insufficient, unachievable, dependent, external audit, abnormal,
irregular.
Ex.6. Match the nouns in the left-hand column with the

adjectives in the right-hand column. Translate the
phrases into Ukrainian.
approximate
auditor statistical
subjective
external
audit internal
travelling
evaluation annual
unscheduled
general
1. a detailed inspection of the accounts of an organization by a professionally

trained person;
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2. an audit carried out by a person not employed by the company to check that
the accounts are accurate and honest;
3. a professionally trained person who examines the accounts of an organization
to check that they are true and correct;
4. a review and evaluation of a company’s financial records by employees of
the same company;
5. an organization’s established methods of carrying out its operating and
recording functions;
6. an analysis, study;
7. the books, files or computer records where a company’s accounts are kept;
8. a report showing profit and loss for a business or institution.

1. … were called in to inspect the accounts.
2. An accountant did a year-end … of our financial records.
3. … firm audited the company every year.
4. … are not employees of the organization whose books they examine.
5. The tax inspector wants to examine … .
6. Many companies employ their own accountants to maintain … .
7. … are a normal and regular part of business practice.
8. Auditors review … and report to the management on the current state of the
company’s … in the form of an Auditor’s Report.
9. An accountant did … of the company’s financial health.
10. The numbers in the report are … .
accurate; an evaluation; fiscal affairs; financial records; outside
audits; an internal audit; the books; independent accountants; the
accounting; audit; the auditors.

An auditor is an accountant, independent … a company, who is appointed
… the shareholders to ensure that the annual accounts give a true and fair view
… the state … affairs … the company. The accounts should be prepared using
the accepted methods … accountancy. Auditors will also try to ensure that the
organization’s accounting systems do not allow any fraud or stealing to occur …
the company’s funds. Large organizations might carry … an internal audit
themselves to ensure that their accounting practices and procedures are accurate
and efficient.
(of (5), by, from, out)
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1. What is auditing?
2. Who carries out audits? Who are usually the clients?
3. What is an internal audit?
4. What do the internal auditors review?
5. What suggestions do the internal auditors make to management?
6. What is an independent audit? Who conducts most independent audits?
7. What do the independent auditors review?
8. What does the external auditor ensure?
Ex.2. Indicate whether each of the following statements is true or false.

1. The people who keep the financial records for an organization are the same
people who carry out an audit of those records.
2. An external auditor is only invited when a company is having financial
difficulties.
3. The more internal controls an organization has, the more efficient is its
performance.
4. Many companies nowadays employ accountants of their own to maintain a
continuous internal audit.
5. Internal auditors try to make sure that the operating sections of a company
follow the policies established by management.
6. The reports of internal auditors always reach the people in management.
7. CPAs seldom do independent auditing.
8. Only very large corporations need external audits.

 auditing
 internal audits
 independent audits
Grammar Revision
Modal Verbs with the Perfect Infinitive

In the previous lesson we looked at how the modals can, may, might,
must, could, should, ought to are used to talk about possibility, probability
and certainty in the present and future. Here we shall look at how these modals
are used to talk about the same ideas in the past.
Must + Perfect Infinitive expresses the speaker’s certainty that
something has happened.
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If she is not here by now, something must have happened.
Could/may/might + Perfect Infinitive express the idea that there is a
possibility that something has happened.
She looks miserable. She could /may/might have lost her job.
(perhaps she has lost her job)
Can’t /couldn’t + Perfect Infinitive express the speaker’s certainty that
something has not happened.
She can’t/couldn’t have gone; her coat is still here.
May not/might not + Perfect Infinitive express the idea that it is
possible that something didn’t happen.
Nobody is in the office. They may not/might not have received our
message.
Should/ought to + Perfect Infinitive indicate that an action considered
desirable was not carried out.
You ought to/should have warned your employer.
Shouldn’t/oughtn’t to + Perfect Infinitive indicate that an action
considered undesirable was carried out.
You shouldn’t /oughtn’t to have told her this news.
Ex.1. Complete the following sentences with an appropriate modal

verb from the box below.
should, couldn’t, ought to, must, can’t, shouldn’t, may
1. She ______ have lost her way; she must have missed the train.
2. Has she phoned yet? She ______ have phoned two hours ago.
3. I’m not waiting much longer. He ______ have been here hours ago.
4. The bus ______ have been at the airport. He promised to meet us.
5. He is back already. He ______ have started very early.
6. Do you remember reading about it in the newspapers? No, I ______ have
been abroad at the time.
7. We had a very good dinner for $3 at a restaurant yesterday. You ______ have
had a very good dinner if you only paid $3.
8. I saw your boss in the theatre yesterday. You _____ have seen him; he is still
abroad.
9. The letter ______ have been posted long ago.
10. You _______ have greeted him first.
11. She _______ have made such a mistake.
12. You _______ have left your glasses in the car.
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13. Give him a ring. He _______ have arrived by now.
14. They ______ have followed her advice. Now they regret not to have done
so.
15. You _______ have spoken to your employee in such a tone. I am sure, you
have hurt him.
16. He ______ have left without saying good-bye.
17. He ______ have concealed something from his employer.
18. They _______ have delayed the discussion of the problem.

1. Не може бути, щоб він дав згоду виконати таку кількість роботи за
такий короткий термін.
2. Не може бути, щоб вони досі не вирішили цього питання.
3. Зараз вони, можливо, вже закінчили свій дослід.
4. Тобі потрібно було зателефонувати йому вчора; ти знав що він хворий.
5. Звичайно, ти повинна була попередити їх раніше. Чому ти цього не
зробила?
6. Його здоров’я покращилося. Він, можливо, кинув палити.
7. Він, можливо, не усвідомив одразу всієї важливості повідомлення.
8. Щось, можливо, затримало його. Він повинен був уже повернутися.
9. Можливо ти не зрозумів її. Вона не хотіла образити тебе.
10. Вони, можливо, не скоротили свої витрати. Ось чому вони зараз є
боржниками.
11. В неї, мабуть, не було жодного шансу попередити мене заздалегідь.
12. До цього часу він, можливо, сплатив уже всі борги.
Ex.1. Explain what the auditing function of accounting involve.
Ex.2. Discuss with your groupmates various functions of internal and

external auditors.
Ex.3. Do you think auditing is useful to a business? Has the attitude

toward auditing changed in modern times?

1. The company’s owners are old and tired; the company needs some new
blood.
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2. He visits once in a blue moon; we almost never see him.
3. She started with no money and pulled herself up by her bootstraps to run
her own company.
4. The bottom line is that we have to increase our sales or take a cut in pay.
5. He went broke without even a penny.

“The path to success is to take massive, determined action.”
(Anthony Robbins)
TEST 5 (UNIT V)

1. An accountant who has passed examinations required by the state licensing officials.
a) government accountant b) private accountant
c) certified public accountant
2. A plan of expected income and expenditure for a particular period of time.

a) budget b) business plan c) forecast
3. The total of separate budgets from different departments within a company.

a) budget account b) master budget c) bargain
4. The people who control a company.

a) associates b) assistants c) management
5. The period used by companies and governments for accounting and tax purposes.
a) control device b) fiscal year c) accounting period
6. A detailed inspection of the accounts of an organization by a professionally trained person.

a) analysis b) evaluation c) audit
7. A report showing profit and loss for a business or institution.

a) creative accounting b) financial statement
c) standard operating procedure
8. The books, files or computer records where a company's accounts are kept.
a) books b) box files c) recorded delivery
9. An audit carried out by a person not employed by the company.

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a) interim audit b) internal audit c) external audit
10. An aim or target.

a) observation b) objective c) obligation
11. A statement about what one thinks will happen in the future.
a) forger b) forfeit c) forecast
12. The amount of work to be done.

a) work permit b) work load c) work release
13. A specialized branch of accounting that deals with government agencies.

a) creative accounting b) governmental accounting
c) current cost accounting
14. The recording of all money received into and paid out of a company in a book or on a computer file.
a) bookkeeping b) auditing c) accounting
15. Dismissing a worker for a period of time.

a) mployment b) e lay-off c) sack
16. The person appointed by the court to close a company and dispose of its assets.
a) employer b) creditor c) liquidator
17. A person or an organization that you owe money to.

a) receiver b) creditor c) administrator
18. To be unable to pay your debts.

a) instalment b) inefficient c) insolvent
19. To become bankrupt.

a) go too far b) go bust c) rescue
20. A reduction in the amount or quality of something.

a) decline b) growth c) prosperity
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UNIT VI MONEY AND BANKING
LESSON 1
Text: Money and its Functions

Grammar: Progress Test IV (Modal Verbs)
crime  злочин; злодіяння

whale  кит
beads  намисто; буси
coin  монета
paper bills  паперові банкноти
value  ціна, вартість; цінність
trust (v)  довіряти
medium of exchange  засіб обміну
measure of value  мірило вартості
yardstick  мірило; мірка; критерій
bookkeeping  бухгалтерія; рахівництво
store of value  засіб заощадження
retain (v)  зберігати; утримувати
accumulate (v)  накопичувати
Money and its Functions
In songs and popular language “money” stands for many things. It’s a
symbol of success, it’s a source of crime, and it makes the world go round.
Along with the Market, Manpower and Material, Money is the last of the
big M's that make business function. It is in the centre of any business activity.
Money is anything used by a society to purchase goods, services or
resources. Different groups of people have used all sorts of objects as money –
whale’s teeth, stones, beads, gold and silver, for example. Today, the most
commonly used objects are metal coins, paper bills, checks and plastic money.
For money to have value, it must perform certain functions, it must be
easy to use, and it must be trusted.
Money has three main functions in any society:
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Serves as a Medium of Exchange. Money, the medium of exchange, is
used in one half of almost all exchange. Workers exchange labour services for
money. People buy and sell goods in exchange for money.
Serves as a Measure of Value. Money serves as a measure of value
because the prices of all products and resources are stated in terms of money.
Money is used as a yardstick for all bookkeeping, budgeting and management.
Represents a Store of Value. Money is a store of value because it may be
held and spent later. It is a means for retaining and accumulating wealth.

symbol, success, crime, money, difference, value, product, wealth.
used in the text.
1. term a) noun b) verb
2. store a) noun b) verb
3. value a) noun b) verb
4. purchase a) noun b) verb
5. trust a) noun b) verb
6. function a) noun b) verb
7. exchange a) noun b) verb
8. bill a) noun b) verb
9. stand a) noun b) verb

символ успіху; купувати товари та послуги; золото та срібло; монети
та банкноти; виконувати функції; засіб обміну; в обмін на гроші; мірило
вартості; складання бюджету; засіб заощадження.
A B
purchase riches
value increase
perform keep
exchange pay money for smth.
represent change
spend denote
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retain complete a task
accumulate worth
wealth buy

to represent, popular, success, value, to trust, to accumulate, similar, easy.
assess
decline in
establish
exceed
money fluctuate in
reduce
offset
transfer
borrow
the value earn
lose
make
save
spend
Ex.7. What part of speech are these words? You can find out
by looking in your dictionary.
noun verb adjective
monetary ------ ------ ------
monetize ------ ------ ------
moneymaker ------ ------ ------
moneyed ------ ------ ------
money-grubber ------ ------ ------
Translate the following sentences into Ukrainian:

1. He doesn’t have much monetary sense; he’s always wasting his money.
2. The government monetized its bonds and spent the money on new projects.
3. That new saleswoman is already a moneymaker for our company.
4. She married a man from a moneyed family.
5. He is such a money-grubber that he won’t answer a question unless you tell
him how much you will pay him.
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Ex.8. The words in the box frequently occur before “money”.

1. money that is being used by the public as opposed to money left in bank
accounts;
2. money easily available on loan at a low rate of interest;
3. extra money or high wages paid to people working in dangerous conditions;
4. money that is difficult to borrow because of high interest rates;
5. money that is not circulated or invested and does not earn interest;
6. an item that can be easily exchanged in the way that money can, although it is
not money itself. It includes cheques and postal orders but not banknotes or
coins;
7. money lent on condition that it must be repaid immediately if necessary;
8. money offered by someone to show that he/she is honest and truthful and will
keep to all agreed terms and conditions;
9. the reward paid by the owners of a rescued ship or goods to the person or
organization that saved it/them;
10. change for small purchases;
11. money which is moved from country to country to get the best return;
12. money paid to someone in return for keeping silent about a crime.
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1. banknotes;
2. a means of payment, esp. coins and banknotes, given and accepted in buying
and selling;
3. a means for retaining and accumulating wealth;
4. a single standard or “yardstick” that is used to assign values to, and compare
the values of products and resources;
5. anything that is accepted as payment for products and resources;
6. the recording of all money received into and paid out of a company in a book
or on a computer file;
7. the worth of something in terms of the money or goods for which it can be
exchanged;
8. a large amount of money, goods or property.

1. Our central aim is to make … .
2. Credit cards and cheques are increasingly used as … .
3. Returned goods can be exchanged for goods of an equivalent … .
4. You will be given a higher salary in … for doing a more responsible job.
5. I … my business partner completely.
6. She … most of her parents’ property, but some went to her children.
7. My savings are … interest.
8. A 10% profit after taxes is widely seen as … for making money in a business.
9. One of the most important … of my job is to see that goods are delivered on
time.
10. He … $200 to fix his car.
spent; functions; a yardstick; accumulating; trust; exchange;

retained; value; the medium of exchange; money
Ex.11. Below are some of the most common terms used to

describe different types of wrongdoing. Translate them
into Ukrainian and match these types of wrongdoing to
their definitions.
1. bribery a) taking goods secretly and illegally in
or out of a country, esp. without
paying customs duty;
2. embezzlement b) illegally giving someone money so
that they act in your favour;
3. forgery or counterfeiting c) any illegal money-making activity;
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4. fraud or racket or scam d) fixing the price of something
illegally;
5. market rigging e) illegally taking money from the
organization you work for;
6. money laundering f) hiding the criminal origin of money
such as drug money.
7. smuggling g) making or faking false documents,
banknotes;

Fraud
He has tricked people out … their money all his life. He was sacked …
his first job when he swindled one … his customers … making him pay the bill
three times. He lost his second job when he defrauded his company … several
thousand pounds which went straight … his bank account. The end came when
he tried to bribe a police officer … offering him a gold watch. … court the judge
fined him a large sum … money and sent him … prison … several years.
(of (4), from, by (2), into, in, to, for)
Notes: to trick a person out of his money – видурити у когось гроші

to swindle – обманювати; обдурювати
to defraud – обманювати; відбирати (обманом)
to bribe – пропонувати хабар; підкупити
to fine – штрафувати

to spend – to waste
to spend – to pay money for smth.; to use time and effort to do smth.
to waste – to make poor use of smth. valuable; to use more of smth. than
is necessary
1. Let’s get down to business about the contract details. We’ve ______ enough
time already.
2. Where is he going to ______ his winter vacation?
3. Don’t ______ your time on him. He is not worth it.
4. He ______ $50 to repair the motor in his car.
5. Governments ______ taxpayers’ money.
6. We are not doing anything special, just _____ the time.
7. He ______ a lot of time with his girlfriend.
8. The builder ______ wood by ordering too much.
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9. He’s too difficult, so dealing with him is a _______ of time.
10. She had to throw away the spaghetti. What a _______ of good food!
11. They don’t have any money to ______ on luxuries.
12. We ______ so much time because the machine keeps breaking down.
13. That new computer is a ______ of money.
14. Thank you for ______ so much time listening to our complaints.

1. What is money?
2. What objects did different groups of people use as money many years ago?
3. What are the most commonly used objects today?
4. What are the main characteristics of money?
5. What functions must money perform?
6. Why is money used as a medium of exchange?
7. Why does money serve as a measure of value?
8. Why can money be characterized as a store of value?
9. What do you enjoy spending money on?
10. How do you feel about borrowing money? Would you worry about being in
debt?
Ex.2. Fill in the correct name for the different forms of money.
1. The money an employee earns _____________
2. The money a blue-collar worker gets _____________
3. The money paid to a doctor or a lawyer for his services _____________
4. The money pensioners get every month _____________
5. The financial support a student gets at a university _____________
6. Shareholders get this money once a year _____________
7. An employee who is made redundant gets this money _____________
8. The price of a flat/house paid to the owner every month _____________
9. The money a company makes at the end of a successful
year _____________
10. Money we all pay to the government in one way or
another _____________
tax, salary, fee, wage, profit, rent, pension, scholarship,

dividend, redundancy payment
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Ex.3. Indicate whether each of the following statements is true or false.
1. A barter system is a system of exchange in which goods or services are
traded directly for other goods and services.
2. Primitive societies use the barter system to exchange goods and services.
3. Whale’s teeth were once used as a medium of exchange.
4. Money is a common denominator that is used to compare products for
purchase.
5. Spending money on a new car is an example of how money represents a store
of value.
6. Stored money is protected from inflation.
7. When money retains its value over time, it has stability.
8. Exchanging goods for goods is called a measure of value.
Ex.4. Sum up what you remember about money:

a) as a medium of exchange;
b) as a measure of value;
c) as a store of value.
Grammar Revision
GRAMMAR PROGRESS TEST IV (MODAL VERBS)
Ex.1. Complete each sentence so that it contains can, must, should,

have to, could, may, ought to (including negative forms).
1. You _____ worry about your promotion.
2. You ______ to come in early tomorrow.
3. He is always buying useless things. He _____ make a lot of money.
4. You ______ realise that the company is in serious trouble.
5. Applications ______ be sent before 1 September.
6. All managers _______ report to the Director who is responsible for making
decisions.
7. You ______ give up smoking.
8. I think we ______ pay in advance.
9. You ______ disturb the manager while he is working.
10. ______ I use your phone?
11. ______ I stop work early today?
12. ______ I pay him tomorrow?
13. Before you travel to Great Britain, you ______ get a visa.
14. Mary isn’t here. She ______ be drinking coffee in the canteen.
15. You ______ record this interview on tape.
16. You ______ telephone from my office.
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17. I _______ buy a fresh newspaper. The boss asked me to get one.
18. She ______ understand what he was doing.
19. This ______ be right. He has certainly made a mistake in translation.
20. She ______ get a rise in salary this month but I am not certain.
21. You _____ work better if you want to finish this work on time.
22. Your manager was very kind to me. I ______ write him a letter of thanks.
23. You ______ do it now, it can wait till later.
24. He _______ pass a special exam to be a CPA.
25. He ______ pay in cash because he had left his credit card in the office.
Ex.2. Complete the sentences with should have …, could have …, may
have …, may not have …, needn’t have …, can’t have …,
shouldn’t have …,
1. You ____ been here a week ago.
2. He ____ signed that contract. He was on business trip last week.
3. If she needed money, she _____ asked me.
4. “Where is the secretary?” “I don’t know. She _____ gone home.”
5. He ______ got a new job. I’ll phone him tonight.
6. She hasn’t come. But she _____ got your message.
7. You _____ made that speech in front of an audience; nobody appreciated it.
8. You really ______ informed your employer of those changes!
9. The delegation ______ arrived yet.
10. You _____ warned him. Why didn’t you?
11. He _____ spoken to the Personal Manager. I’ve already spoken to him.
12. You ______ bought that house.
13. I _____ borrowed him money. It was my mistake.
14. He ______ invested all the money. I am sure he hasn’t.
Ex.1. Discuss with your groupmates the functions of money. Do you

feel it is the best means of exchange? Why or why not?
Ex.2. Speak about your attitude to money. Do you spend all your
money? Do you save any money?
Ex.3. Interview your groupmate. Find out how careful he/she is with
money.
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1. He is a whale at accounting.
2. We came to terms on the contract and signed it.
3. My partner is honest; you can set store by his promise.
4. The basic financial plan was approved, but the accountants met to iron out
the wrinkles that remained.
5. For my money, this project will be very profitable.
Ex.5. How good or bad are you with money? Read the questionnaire
and think about your answers.
1. When you get a present of money (e.g. for your birthday), how much of it do
you save?
a) all of it
b) most of it
c) some of it
d) none of it
2. How many of the following things did you buy last month?
Jeans, a CD, a computer game, a T-shirt
a) none of them
b) some of them
c) most of them
d) all of them
3. When you go out with your friends, how much money do you take with you?
a) none
b) not very much
c) quite a lot
d) all the money I have
4. If you see two things in a shop you really like, do you buy?
a) neither of them
b) one of them
c) sometimes both of them
d) always both of them
5. Someone asks you to give something to a charity that you like, how much
money do you give?
a) none
b) a little
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c) quite a lot
d) all the money I’ve got with me
Results
Mainly “a” answers: You are completely moneywise. Congratulations!
Mainly “b” answers: You are pretty good with money. Keep trying!
Mainly “c” answers: You are a big spender. Take care!
Mainly “d” answers: You have a hole in your pocket.

“Money spent on the brain, is never spent in vain”
(Proverb)
LESSON 2
Text: Types of Banks

Grammar: Comparison of Adjectives
banking  банківська справа

be engaged in (v)  займатися
Central bank  Центральний банк
the Federal Reserve System  Федеральна резервна система
(the Fed)
commercial bank  комерційний банк
accept deposits (v)  приймати депозити (вклади)
make a loan (v)  одержати позику, надавати
позику
manage customers’ accounts (v)  вести рахунки клієнтів (у
банку)
merchant bank  торговельний банк
investment bank  інвестиційний банк
savings bank  ощадний банк
savings account  ощадний рахунок
Types of Banks
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A bank is an institution that deals in money and provides other financial
services. Banks are at the heart of any financial system.
Banking is the business a bank is engaged in.
There exist different types of banks but their names may vary from one
country to another.
Central banks such as the National Bank (Ukraine), the Bank of England
(UK) or the Federal Reserve System (US) look after the government’s finance
and monetary policy, act as bankers for the state and for commercial banks,
manage a country's reserves of gold and foreign currencies, and are responsible
for issuing banknotes.
Commercial banks deal directly with the public. They offer a wide range
of services such as accepting deposits, making loans and managing
customers’ accounts. The aim of commercial banks is to earn profit.
Merchant banks don’t deal with the public. They provide services for
companies. They specialize in raising capital for industry, arranging flotations,
takeovers and mergers, and investment portfolios.
Investment banks are firms that control the issue of new securities
(shares and bonds).
Savings banks are financial institutions that specialize in providing
services such as savings accounts as opposed to general banking services.

banking, financial, national, governmental, commercial, profitable,
industrial, monetary.

установа, яка має справу з грошима; надавати фінансові послуги;
банківська справа; Національний банк України; піклуватися про монетарну
політику; відповідати за емісію грошей; комерційний банк; приймати
депозити; надавати позику; заробляти прибуток; торговельний банк;
придбання контрольного пакета акцій; злиття (підприємств); інвестиційний
банк; ощадний банк; ощадний рахунок.
A B
savings account service an account
make a loan get money by working
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engage in take care of
exist differ
vary people
look after be
public be involved in
earn extend a loan
manage an account thrift deposit
Ex.4 Find suitable opposites to the following words and phrases:

definite; to control; to lose profit; commercial banks; withdrawal.
Ex.5. Match the nouns in the left-hand column with the verbs in the
right-hand column.
repay
deposit obtain
apply for
account back
accept
loan hold
withdraw
make
close
open
settle
manage
Ex.6. The words in the box frequently occur after “bank”.

1. a book that lists all payments into and withdrawals from a customer’s bank
account;
2. the amount of money paid by a customer to the bank for its services;
266
3. a person who serves customers, keeps accounts and does other work in a
bank;
4. a sum of money left with a bank for safe keeping or to earn interest;
5. a cheque that guarantees payment by a bank;
6. money that has been lent by a bank to a customer for a fixed period;
7. a person employed by a bank to control a particular branch or department;
8. (UK) a day, not a Saturday or Sunday, when banks are closed and which is
also a general holiday;
9. an arrangement with a bank that allows the customer to pay in and take out
money;
10. a printed report that shows all the money paid into and out of a customer’s
bank account within a certain period and the total amount left in the account;
1. the business of running or working in a bank;

2. the most important bank in a country because it issues and manages currency
and helps to carry out the government’s financial policy;
3. a bank that provides many different services for its customers, e.g. providing
bank accounts and credit cards, arranging loans, etc.;
4. a bank that specializes in raising capital for industry. It advises companies on
flotations, manages investment portfolios;
5. a bank that provides finance for companies, especially by buying stocks and
securities and selling them in smaller units to the public;
6. a financial institution that specializes in providing services such as savings
accounts;
7. an organization that holds money, important documents and other valuables
in safe keeping, and lends money at interest;
8. a sum of money paid into a bank or savings account;
9. an account with a bank for personal savings;
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10. something lent, usually money, on the condition it will be paid back after an
agreed period with interest;
11. the central banking system of the USA;
12. offering company shares for sale to the public or on a stock exchange for the
first time.

1. She opened her … with the Midland Bank last year.
2. She works in … .
3. Her monthly salary was paid into the … .
4. I made a … at the bank this morning.
5. I applied at the bank for a … at 7% interest.
6. Lloyd’s is one of the major … banks in the UK.
7. The firm has taken advice from a … bank on the flotation.
8. I put $600 in my … account last year and earned 5 percent annual interest.
9. The company has had a difficult time since its … in 2001.
10. The company decided to increase its … and bought shares in Smith. Ltd.
11. A … card allows you to buy goods and pay for them later.
Portfolio; flotation; savings; merchant; commercial; loan; deposit;

bank; banking; account, credit.

The central bank … the UK has a number … important functions … the
economy. It is the government’s bank, which means that it issues and refunds
government loans and securities and looks … the National Debt. It is the only
bank allowed to issue bank notes … England and Wales. It implements the
monetary policy … the government … its control … the money supply and
interest rates. It also controls the provision … international exchange … trading.
It is a publicly owned organization, largely controlled … the Treasury.
(of (4), in (2), after, through, over, for, by)

to make – to do
1. What have you been _____ ? Your hands are dirty.
2. I have _____ an arrangement with the Personnel Manager.
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3. He likes _____ nothing.
4. Let’s ______ a plan.
5. Could you _____ the shopping for me?
6. I must ______ the accounts now.
7. ______ a copy of this letter, please.
8. I’ll ______ my best to help you sign this contract.
9. We haven’t _______ a decision yet.
10. Merchant banks ______ business with companies.
11. He ______ accounting.
12. Our company _______ computers.
13. The businessman ________ contact with a new customer.
14. I ______ what the boss wanted.
15. She _____ a good salary as an auditor.
16. That company _______ a big profit.

1. What is the bank?
2. What is banking?
3. What types of banks exist in most countries?
4. What functions do central banks perform?
5. What kind of institution is a commercial bank?
6. What is the difference between a national bank and a commercial bank?
7. Who are the clients of a merchant bank?
8. What do merchant banks specialize in?
9. What are investment banks?
10. What is characteristic of a savings bank (as opposed to a merchant bank)?
11. What are the potential advantages of large banks?
12. What is the Federal Reserve System?

1. Банк – це установа, яка має справу з грошима та надає різні фінансові
послуги.
2. Банківська справа – це бізнес, яким займається банк.
3. Нацбанк України піклується про державні фінанси та монетарну
політику.
4. Центральні банки відповідають за емісію грошей.
5. Головна мета комерційного банку – одержання прибутку.
6. Торговельний банк надає послуги компаніям. Він не працює з
населенням.
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7. Інвестиційний банк – це фірма, яка контролює випуск нових цінних
паперів.
8. Ощадний банк спеціалізується в наданні таких послуг, як ощадні
рахунки.
9. Комерційні банки – це головна ланка в кредитній системі держави.
10. Федеральна резервна система, яка включає 12 федеральних банків та їх
філії, контролює американську державну банківську систему.

a) banking
b) different types of banks and their functions
Grammar Revision
Comparison of Adjectives
 We add –er to one-syllable adjectives to form the comparative and –est to

form the superlative
Demand for our computers is high in Egypt, higher in Turkey but the
highest demand is in Russia.
 We add –ier and –iest to adjectives ending in –y
wealthy – wealthier – the wealthiest
 We add more/less and the most /the least to two or more syllable adjectives
important – more/less important – the most /least important
 There are “irregular” comparatives and superlatives
good – better – the best
bad – worse – the worst
far – farther/further – the farthest/furthest
old – elder – the eldest (for family members only)
 We use than to compare two or more things
The CD is more expensive than the cassette.
Ex.1. Divide the adjectives in the box into groups according to how
the comparative and the superlative are formed.
Fast, easy, modern, big, high, slow, expensive, hard-working,

cheap, punctual, complicated, good, useful, happy, low, responsible, bad,
reliable, comfortable, hard, experienced, far, important, exciting,
wealthy, large, thin, tidy, tiring, honest, reasonable.
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Ex.2. Use adjectives from the box and write sentences comparing your
country and some other countries. Use both comparative and
superlative adjectives. Write at least five sentences.
Ex.3. Complete these sentences, using the correct form (comparative or

superlative) of the adjectives in brackets.
1. Our profit is (big) than our competitors’.
2. He is (qualified) than the previous accountant.
3. She is much (experienced) than her friends.
4. This device is (cheap) of all.
5. She is (young) in our department.
6. This is one of the (reliable) banks in Ukraine.
7. The situation in the market is getting (difficult).
8. You have got the (small) office.
9. Money has always been the (important) thing.
10. The prices for this product are (high) here.
11. I hear you were having problems last year. Is your business (good) this year?
12. I am so happy. This is (good) news I’ve heard for ages!
13. That hotel was very cheap. I expected it to be much (expensive).
14. If you need any (far) information, please contact our bank.
15. It was (bad) experience in my life.
16. This is (difficult) decision I’ve made for years.
17. The quality of our product is rather high, but we must make it still (high).
18. This company’s products are (expensive) on the market.
19. This supermarket offers (low) prices than any other local supermarket.
20. We were disappointed as the presentation was (successful) than we
expected.
21. The banking system of Ukraine is becoming (dependent) on global
processes.
Ex.4. Make up sentences using the present perfect and a superlative

adjective.
E.g. difficult decision/make

It's the most difficult decision I have ever made.
1. cheap hotel/stay in
2. fast car/drive
3. reasonable boss/work for
4. boring presentation/hear
5. difficult customers/deal with
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6. good product/produce
7. bad job/have
8. simple computer program/use
9. reliable bank/deal with
10. profitable contract/make
11. bad mistake/make
12. expensive thing/buy
13. big company/work for
14. long meeting/be to
Ex.1. Describe the differences between central banks and other

financial institutions in the banking industry.
Ex.2. Discuss the role of the National Bank of Ukraine as you see it
today. Do you feel it is doing an effective job? Why or why not?
Ex.3. Name some big commercial banks in Ukraine. Would you

deposit your money in a bank that did not offer state insurance
protection?

1. The gambler broke the bank at the casino.
2. Loan sharks operate outside the law.
3. You can bank on him to do what he promises.
4. He touched all the bases in his talk about the new product.
5. When they could not pay their taxes, they were behind the eight ball
because the government fined them more money.

“A bank is a place where they lend you an umbrella in fair weather and
ask for it back when it begins to rain.”
(Frost)
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LESSON 3
Text: Banking Services

Grammar: Comparison of Adverbs
banking facilities  банківські послуги, банківські операції
credit card  кредитна картка

repay (v)  розрахуватися (за щось); повертати (борг)
rate of interest  позиковий процент
overdraft  перевищення кредиту; овердрафт
direct debit  пряме дебетування
standing order  постійне доручення
transfer (v)  переказувати (гроші); перераховувати
(суми)
foreign exchange  іноземна валюта
diversify (v)  урізноманітити (діяльність);
диверсифікувати
insurance  страхування
Banking Services
Modern banks offer many services to businesses as well as to individual

customers. The service menu of banks does not remain unchanged as new
services are constantly being introduced.
Here are some of the most widely used banking facilities:
A credit card enables the holder to buy goods and repay the credit card
issuer at a later date.
A loan is an amount of money borrowed from the bank which must be
repaid at a fixed rate of interest.
A mortgage is a loan to buy property.
An overdraft is a loan made by a bank to a customer so he/she may take
out more money than is actually in a bank account.
As well as offering credit facilities, banks provide services to allow
customers to make payments:
Direct debit is a system of paying bills, etc. by having money
automatically transferred from a bank account.
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A standing order is an arrangement with a bank to pay a certain amount
to another person or organization at regular intervals.
Most banks offer a foreign exchange service – the facility to change
money from one currency to another.
In recent years banks have diversified, and now offer such services as
insurance, investment advice, private pension plans, and home-banking
(telephone, SMS and Internet) facilities.

hold, issue, loan, bank, credit, pay, borrow, insure, invest, advise.
1. credit a) noun b) verb
2. loan a) noun b) verb
3. bank a) noun b) verb
4. transfer a) noun b) verb
5. order a) noun b) verb
6. pay a) noun b) verb
7. change a) noun b) verb
8. offer a) noun b) verb

банківські послуги; пропонувати багато послуг клієнтам;
запроваджувати нові послуги; кредитна картка; купувати товари; емітент
кредитної картки; розраховуватися за позику; перевищення кредиту; на
банківському рахунку; здійснювати платіж; переказувати гроші; пряме
дебетування; постійне доручення; іноземна валюта; страхування.
Ex.4. Match words from list A w ith words from list B that have a
similar meaning:
A B
loan bank order
meet a loan foreign currency
facilities permit
repay possessions
enable receive a loan
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borrow pay back
property make possible for
allow services
foreign exchange repay a loan
standing order advance

domestic currency; to borrow; regular; direct; individual; to forbid;
unchanged.
pay by
mortgage cancel
arrange
overdraft hold
raise
standing order redeem
apply for
clear
have
1. a plastic card, issued by a bank or finance company, which guarantees that

payment for goods or services will be made to the seller by the card issuer.
The cardholder then makes payment to the card issuer at a later date;
2. an agreement in which money is lent by a bank or a building society, etc. for
buying a house or another property. The property acts as the security, it can
be reclaimed by the lender if the mortgage payments are not made;
275
3. a loan made by a bank to a customer so he/she may take out more money
than is actually in a bank account;
4. a system of making payments by having money transferred from an account;
5. a customer’s instruction to a bank to pay a certain amount to another person
or organization at regular intervals;
6. a method of guarding against injury, loss or damage to property by paying a
sum of money to an insurance company;
7. the amount that one must pay for a loan;
8. to enter new types of businesses.

1. It’s very convenient to pay by … .
2. My account allows me to pay insurance by … .
3. We make monthly payments on our house … .
4. I must pay off my … .
5. The rent is paid by … .
6. For …, you should make an appointment with one of our specialist advisers.
7. I’d like to take out … on a house.
8. Most Ukrainian banks offer a … service, dealing in all major currencies.
9. You’ll find all information about … services in our bank’s website.
10. Many banks have … to reduce the chance of a big loss.
diversified; home-banking; foreign exchange; insurance;
investment advice; standing order; overdraft; mortgage; direct debit;
credit card.
Ex.9. Fill in the missing prepositions and adverbs.

Mortgage
A mortgage is a type … finance used … individuals to purchase property.
A loan is made … a building society, bank or insurance company, covering a
proportion … the purchase price … that property to be paid … over a set period
… time (often 25 years). The institutions making that loan retain ownership …
the property as security … the loan until the loan is repaid.
(of (5), by (2), back, for)
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1. Whom do modern banks offer their services?
2. Does the service menu of banks remain unchanged?
3. What does the credit card enable the holder?
4. What is a loan?
5. What is a mortgage?
6. What is an overdraft?
7. What is the difference between a loan and an overdraft?
8. What other services except credit facilities do banks offer to their customers?
9. What is direct debit?
10. What kind of arrangement is a standing order?
11. What is meant by “a foreign exchange service”?
12. What new services have appeared in the banks as a result of their
diversification?
Ex.2. Sum up what you remember about modern banking services.
Grammar Revision
Comparison of Adverbs
 Most comparative and superlative adverbs are made with more and most
– Can you type more quickly?
I am typing the most quickly.
 Adverbs that have the same form as adjectives (e.g. early, fast, hard, late,
long, near, etc.) have comparatives and superlatives with -er and –est.
– Can you type faster?
I am typing the fastest.
 Irregular forms
well better best
badly worse worst
far farther/further farthest/furtherst
much/many more most
little less least
Ex.1. Divide the adverbs in the box into groups according to how the
comparative and the superlative are formed:
early, easily, fast, hard, slowly, late, soon, well, badly, high,
low, direct, little, straight, often, loud, far, near, fluently, carefully.
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Ex.2. Complete these sentences, using the correct form (comparative or

superlative) of the adverbs in brackets.
1. If you don’t walk (fast), you’ll be late.
2. She works (fast) of all the secretaries in her company.
3. You could do it (well) with my computer.
4. We could have found the proper solution (easily) with your help.
5. My car is very economical, it uses (little) petrol.
6. You are late again. We expected you to be here (early).
7. We’ve got (little) time than we thought.
8. They responded to our call (quickly) than we expected.
9. As far as I know Tom works (hard) of all in the company.
10. You can buy them (cheap) at Brown’s.
11. Can you go out (quietly) next time?
12. You should look through the financial statement (attentively).
13. She resumed her way (slowly).
14. The banks close (early) here than they do in Ukraine.
15. The company did (well) than analysts had been expecting.
Ex.1. Describe one of your local banks. Speak about: location, number
of customers, opening hours, services offered, number of
employees, its role in the community.
Ex.2. Make a list of the different services that banks in Ukraine

provide for the public. Which of them seem the most important
to you and why?

1. I have my fingers crossed that I’ll sign the contract today.
2. I know we should make her do more of the work, but I’d rather let sleeping
dogs lie.
3. We worked like dogs to finish the job on time.
4. We worked for months on that project, and when it was stopped, all that time
and effort went down the drain.
5. She decides what will be done; she is in the driver’s seat.
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“A bank is a place that will lend you money if you can prove that you
don’t need it.”
(Bob Hope)
LESSON 4
Text: The Euro

Grammar: Comparatives: other points
single currency  єдина валюта

the European Union (the EU)  Європейський союз
stable  стабільний
attractive  притягальний; привабливий
benefit  перевага; користь, вигода;
прибуток
advantage  перевага
obvious  очевидний; ясний, зрозумілий
abolish (v)  скасувати; усувати
transaction cost  вартість угоди
transparent  прозорий; очевидний
transfer of funds  переказ грошей (грошових
коштів)
purchasing power  купівельна спроможність
sustainable  усталений
The Euro
The single European currency, the euro, was launched on 1

January 1999. Since that time the € sign has become as familiar as the $ or ₤.
A stable currency whose owners are as big in world trade as the European
Union is attractive to a lot of international investors who want to be less
dependent on the dollar.
A single currency has potential benefits for the economy of every
European Union’s country, in particular, as well as for all member states in
general. Among the advantages the following can be pointed out:
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 lower transaction cost: the euro makes commerce within the EU easier by
abolishing the currency exchange mechanism. This, in turn, provides for
lower transaction cost.
 transparent price differencies: the single currency makes price differencies in
different countries of the Euro zone more obvious.
 reduced costs: for customers, in particular, to travel to other countries; easier
and less expensive transfer of funds to other countries; secured purchasing
power owing to lower inflation; more sustainable economic growth, which
will increase employment.

stability, owner, attraction, advantage, benefit, commerce, economy,
difference, purchase.
1. sign a) noun b) verb
2. trade a) noun b) verb
3. transfer a) noun b) verb
4. increase a) noun b) verb
5. benefit a) noun b) verb
6. travel a) noun b) verb
7. price a) noun b) verb
8. fund a) noun b) verb
9. cost a) noun b) verb

єдина європейська валюта, стабільна валюта; всесвітня торгівля;
Європейський союз; приваблива для інвесторів; перевага; вартість угоди;
прозора різниця в цінах; мандрувати; скасувати механізм обміну валюти;
знижувати вартість; переказ грошей; купівельна спроможність; зайнятість;
усталене економічне зростання.
A B
single cancel
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sign evident
stable deal
attractive benefit
advantage interesting
transaction steady
obvious symbol
abolish sole

general; to stop; attractive; stable; dependent; advantage; employment;
hidden; to establish; in general.
Ex.6. Match the nouns in the left-hand column with the verbs in the
right-hand column:
make
handle
currency negotiate
cancel
cut
transaction compute
increase
determine
cost control
convert
devaluate
exchange
1. a free trade association with a common currency and unrestricted movement

of capital goods and people between countries;
2. the unit of currency of the European Union;
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3. the coins and banknotes that belong to a particular country;
4. money that can be exchanged for the currency of another country;
5. the price of something;
6. the rise in prices resulting from an increase in demand for goods and services
and lowering of currency’s value;
7. a person who puts money into a business idea or activity in the hopes of
making more money if the idea is successful;
8. a group of countries in Europe working to create a stronger world market for
European goods and services;
9. gain, positive result;
10. the amount of money that a person, an organization or a country has to buy
goods and services;
11. the amount of money spent on a piece of business done;

1. A … leads to greater economic and monetary integration.
2. In the EU all business going through banks is now transacted in … .
3. The advantages of the single European currency are … .
4. The tourist changed a traveller’s cheque into local … .
5. Increased incomes have led to increased … in the country.
6. This contract is very attractive to our company. It has many … .
7. We had to increase prices last year just to cover our … of doing business.
8. The government … the tax on food.
9. My life is more … since I found a job.
10. It is … that the single market will work much better with a … .
single currency; obvious; stable; abolished; costs; advantages;
currency; euros; single market, purchasing power, transparent.

The Euro
The euro is the unit … currency … the European Union. It has real
practical advantage. … example, it is easy to compare prices … the same goods
… different member states. It is easier to spot the bargains … other countries
and to buy there, … mail order or … shopping … the Internet.
Another benefit is obvious when you travel … the EU as you do not have
to keep changing money and paying the charges.
Europe’s economy is now built … a single market and the single market
will work much better … a single currency.
(of (2), for (2), in (2), on (2), through (2), around, with)
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Ex.10. Translate the following sentences into Ukrainian. See how you
translate the words “advantage” and “disadvantage”.
1. The greater experience of our company gives us an advantage over our
competitors.
2. The high cost of living is a disadvantage to living in a big city.
3. Our product is cheaper than the other, so we have an advantage.
4. I will take advantage of my business trip to London to see the beautiful
sights.
5. Many of the disadvantages of the project were quite clear.
6. She had all the advantages in life, such as wealthy parents and first-rate
education.
7. This contract has many advantages.
8. The salesperson took advantage of me by charging me too much.
9. His inability to speak English puts him at a disadvantage when he attends
international conferences.
10. He always takes full advantage of the mistakes made by his rivals.

1. When was the single European currency launched?
2. Why is the euro attractive to international investors?
3. Does a single European currency have any benefits?
4. How does the euro make commerce within the EU easier?
5. What provides for lower transaction cost?
6. What does the single currency make more obvious in different countries of
the Euro zone?
7. What costs does the euro reduce?
8. What will increase employment in the EU?
Ex.2. Sum up what you remember about the single European currency.
Grammar Revision
Comparatives: other points

 We use double comparatives (…er and ….er, more and more…) to say
that something is changing
The euro is getting stronger and stronger.
He is working more and more slowly.
 We use the … the … with comparatives to say that one thing depends on
another thing
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The earlier we start, the sooner we will finish the project.
 We use as … as to say that things are equal or unequal
The euro has become as popular as the dollar.
This currency is not as strong as that one.
Ex.1. Complete the sentences using as … as.

1. Your proposal is interesting but mine is more interesting. Your proposal isn’t
______.
2. You read a lot about the euro but I read more. You didn’t read _______.
3. The last contract was more profitable than this one. This contract isn’t
_______.
4. Supermarkets are more convenient than small shops. Small shops aren’t
_______.
5. This transaction is less expensive that that one. This transaction isn’t
_______.
6. The restaurant was cheaper than we expected. The restaurant wasn’t
_______.
7. We have bought less currency than we need. We haven’t bought _______.
8. The financial statement was easier to make than we expected. The financial
statement wasn’t _______.
9. Our results are worse than we forecasted. Our results aren’t _______.
10. Their products are reliable but ours are more reliable. Their products aren’t
________.
Ex.2. Complete the sentences using double comparatives (…er and …

er, more and more …).
1. As he waited for his first negotiations, he became … (nervous).
2. It’s becoming … (difficult) for me to make such decisions.
3. Our financial situation is getting … (bad).
4. Hotels are getting … (expensive).
5. Our transactions are becoming … (unprofitable).
6. As the conversation went on, she became … (confused).
7. The queue in the supermarket was getting … (long).
8. Price differences in different countries of the Euro zone are becoming …
(obvious).
9. It’s becoming … (hard) to find a job in small towns.
10. My business is getting … (profitable).
Ex.3. Complete the sentences with expressions from the box. Use
the … the.
cheaper/better, bigger/wider, more comfortable/higher, higher/better,
longer/less, more/less, longer/angrier,
284 older/more impatient, faster/more
profitable, more/more.
1. The … money you earn, the … you waste.

2. The … you improve the quality, the … your business will become.
3. The … he gets, the … he becomes.
4. The … he waited for his boss, the … he became.
5. The … shares you buy, the … profit you make.
6. The … I work in this company, the … I like it.
7. The … the price, the … the quality of the product.
8. The … the car is, the … price is.
9. The … a department store is, the … the choice is.
10. – Are you looking for an expensive flat?
– No, the … the ….
Ex.1. Speak about the Euro. What is special about this currency?
Ex.2. The Euro introduction in the EU is a part of the program of

European countries’ integration. Will this facilitate the activity
of Ukrainian businessmen in the Euro zone?
Ex.3. What do you think will happen to the exchange rate between the
hryvnia and the Euro in the next few years?

1. We see eye to eye on the matter, so let’s sign a contract.
2. Instead of firing him, the company let him quit to save face.
3. He fell down on the job and didn’t complete his assignment on time.
4. The owner made a fast buck by selling his business before it failed.
5. He’s crazy to think we will work on Sundays for chicken feed.

“A business cannot afford conscience.”
(Anonymous)
TEST 6 (UNIT VI)
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1. A charge paid to a person or a bank for the money borrowed.
a) loan b) interest c) rent
2. Illegally giving someone money so that they act in your favour.

a) racket b) money laundering c) bribery
3. A book that lists all payments into and withdrawals from a customer's bank account.
a) bank statement b) bank book c) bank deposit
4. The most important bank in a country that controls a nation's policy on money and interest rates.
a) development bank b) major bank c) central bank
5. A bank that specializes in raising capital for industry.

a) savings bank b) merchant bank c) national bank
6. An account with a bank for personal savings.

a) savings account b) capital account c) correspondent account
7. The central banking system of the USA.

a) Commercial Bank b) National Bank c) Federal Reserve System
8. A system of making payments by having money transferred from an account.

a) direct mail b) direct debit c) direct export
9. A customer's instruction to a bank to pay a certain amount to another person or organization at regular
intervals.
a) standard rate b) statement of account c) standing order
10. A free trade association with a common currency and unrestricted movement of capital goods and people
between countries.
a) firm market b) single market c) profitable market
11. The unit of currency of the European Union.

a) dollar b) euro c) pound
12. The coins and banknotes that belong to a particular country.

a) benefit b) currency c) transaction cost
13. Money that can be exchanged for the currency of another country.
a) convertible currency b) counterfeit currency c) controlled currency
14. A group of countries in Europe working to create a stronger world market for European goods and services.
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a) European Commission b) European Union c) United Nations
15. The amount of money that a person, an organization or a country has to buy goods and services.
a) active power b) economic power c) purchasing power
16. The amount of money spent on a piece of business done.

a) actual cost b) transaction cost c) contract cost
17. An agreement with a company in which the company will pay for a loss or accident in exchange for regular
premiums (payments).
a) insurance b) installment c) insulation
18. A large amount of money, goods or property.

a) value b) wealth c) cost
19. Disguising the criminal origin of money such as drug money.

a) money order b) money supply c) money laundering
20. Change for small purchases.

a) near money b) pocket money c) cheap money
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UNIT VII INTERNATIONAL BUSINESS
LESSON 1
Text: International Trade

Grammar: The Infi nitive
international trade  міжнародна торгівля

consume (v)  споживати
unobtainable  недосяжний, недоступний
domestic  вітчизняний, внутрішній
living standard  життєвий рівень
protectionist measures  протекціоністські заходи
tariff  тариф
quota  квота
exchange control  валютне регулювання
national producer  національний виробник
barrier  бар’єр
free trade  вільна торгівля
International Trade
International trade is the exchange of goods and services between

countries. It enables countries to obtain some goods and services more cheaply
than they could produce them for themselves or to consume goods and services
which would otherwise be unobtainable from domestic supply sources.
Through international trade countries can improve their living standards.
International trade keeps domestic prices down by creating competition at home
and provides large markets abroad.
Governments can control international trade. The most common
protectionist measures are tariffs (a tax on imported goods), quotas (the
maximum quantity of a product allowed into a country during a certain period of
time), exchange controls. They raise the price of imported goods to protect
national producers.
The international trade that takes place without barriers such as tariffs,
quotas and exchange controls is called free trade.
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UNIT VІI INTERNATIONAL BUSINESS
Free trade area is a form of trade integration between a number of
countries, in which members eliminate all trade barriers among themselves on
goods and services, but each continues to operate its own barriers against trade
with the rest of the world.

produce, consume, improve, control, protect, integrate, eliminate, operate,
supply.

міжнародна торгівля; покращувати життєвий рівень; контролювати
міжнародну торгівлю; протекціоністські заходи; валютне регулювання;
підвищувати ціни на імпортні товари; захищати національного виробника;
вільна торгівля; усувати всі торгові бар’єри.
a similar meaning:
A B
obtain obstacle
produce defend
consume internal
domestic elevate
raise use up
protect manufacture
barrier get

domestic; cheaply; obtainable; to raise the price; international trade.
raise
remove
tariffs eliminate
abolish
quotas impose
pay
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barriers exceed
operate
fix
Ex.6. The words in the box frequently occur before and after “trade”.

1. trade between buyers/sellers in one country and sellers/buyers in other
countries;
2. trade between buyers and sellers in the same country;
3. an organization of producers or sellers of similar products that provides
advice, information and services for its members;
4. a group of countries that agree to trade with each other on favourable terms;
5. a person or business that has supplied goods or services to a company and is
owed money for them;
6. the amount by which the value of a country’s imports is greater than the
value of its exports;
7. an amount that is taken off the normal selling price of a product;
8. a big exhibition where manufacturers and sellers display their goods;
9. a name or symbol that is used on the products of a particular company;
10. an action taken by a government to limit the amount or type of goods
imported or exported, usually by introducing taxes and tariffs.
1. the level of material comfort and wealth that a person or a community has;
2. an amount that must be paid when particular goods are imported into a
country, or sometimes when they are exported;
3. a limit on the amount of a particular good that may be imported into a
country during a given period of time;
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4. a set of restrictions imposed by a government on buying and selling foreign
currencies;
5. an obstacle;
6. trade between countries with few government restrictions;
7. a system of import controls set up by a government to protect the country’s
agriculture and industry from foreign competition;
8. inside a particular country.

1. The country depends on … trade.
2. I hope this new job will give me a better … .
3. … barriers can make trade difficult.
4. The government fixed a … on the number of foreign cars allowed to be sold
in the USA.
5. The United Kingdom removed all … long time ago.
6. The General Agreement on Tariffs and Trade (GATT) is an international
organization whose goal is to eliminate tariffs and other … to international
trade.
7. … trade among nations results in increased competition and lower prices.
8. This company is the largest … of steel.
9. The government raised the price of imported goods to protect … goods.
national producer; free; barriers; exchange controls;

domestic, quota; tariff; living standard; international

A foreign-exchange control is a restriction … the amount … a
particular currency that can be purchased or sold. … limiting the amount …
foreign currency that importers can obtain, a government limits the amount …
goods that importers can purchase … that currency. This has the effect …
limiting imports … the country whose foreign exchange is being controlled.
(on, of (4), by, from, with)
Ex.10.These words are often confused:

to provide – to secure – to ensure
to provide – to give someone something they want or need
to secure – to get or achieve something important; to make an area or
building safe
to ensure – to make sure that something happens or is done
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1. My job … me with the opportunity to meet new people every day.
2. People need a job to … their independence.
3. Our company will soon … a full account of its investment activities.
4. I was very pleased with the room you … me with.
5. I … that the house was protected by locking all the doors.
6. My department … advice for those who plan to set up a business.
7. The company has … all the workers who use dangerous machines.
8. She has … a good job.
9. I can’t … that he will be there in time.
10. Can you … me two good seats for the concert?
11. We … legal advice to our clients.
12. Our new research strategy … that we get the best possible results.

1. What is international trade?
2. Why do countries engage in international trade?
3. Does international trade influence domestic prices?
4. Do governments control international trade?
5. What are the most common protectionist measures?
6. What reasons are generally given for imposing trade barriers?
7. What is free trade?
8. What is free trade area?
Ex.2. Choose the correct term for each definition.

free trade, free trade area, tariff, trade protectionism, import quota
1. When there is a limit on the number of products in certain categories that can
be imported, a(n) _______ has been established.
2. In a _______ there exists a market in which nations can trade freely with
each other without tariffs or other trade barriers.
3. An import tax designed to raise the price of imported goods so that domestic
products will be more competitive is called a(n) _______.
4. The use of government regulations to limit the import of goods and services
is considered to be _______.
5. There is _______ when the movement of goods and services among nations
takes place without barriers.
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 international trade;
 protectionist measures;
 free trade.

1. Міжнародна торгівля – це обмін товарами та послугами між різними
країнами.
2. Завдяки міжнародній торгівлі країни можуть покращити свій життєвий
рівень.
3. У всіх країнах міжнародна торгівля контролюється державою.
4. Тарифи, квоти, валютне регулювання – це протекціоністські заходи, які
застосовує держава, щоб захистити національного виробника.
5. В зоні вільної торгівлі не існує торгових обмежень на товари та послуги.
6. Тариф – це податок на імпортні товари.
7. Квота – це ліміт на кількість товару, який дозволяється імпортувати в
країну протягом конкретного часу.
8. Протекціоністські заходи підвищують ціни на імпортні товари.
Grammar Revision
The Infinitive
1. The infinitive has the following forms:
Active Indefinite Progressive Perfect Perfect
Voice Progressive
to ask to be asking to have to have been
asked asking
Passive to be asked _____ to have _____
Voice been asked
2. The infinitive can be used as:

 the subject It was hard to raise this question.
 the predicative The main problem is to get to the office on time.
 an object She tried to speak calmly.
 an attribute There was nothing to argue about.
 an adverbial modifier I have come to see the manager.
3. Some verbs can be followed by object + infinitive.
297
I’d like you to pay now.
a) verbs followed by an object + infinitive with “to”:
advise, allow, ask, expect, forbid, force, get, hate, help, intend, invite,
permit, order, prefer, recommend, remind, tell, want, persuade, like, warn,
wish, would like, encourage
My boss always encouraged me to work as hard as I could.
b) verbs followed by an object + infinitive without “to”:
let, make, feel, see, hear, watch, notice, have and sometimes know and help
Let me explain the rule.
Ex.1. Translate the sentences into Ukrainian and state the form and
function of the Infinitive.
1. She was the last to solve the problem.
2. To do it accurately was the main problem.
3. This is a prestigious company to work in.
4. It was kind of your boss to have offered it to you.
5. Our plan was to finish this work by the end of the month.
6. I was lucky to have been chosen for this job.
7. This is a very good hotel to stay in.
8. There is a lot of work to be done today.
9. She was the first to be given a rise.
10. It’s nice to be working right now.
11. He hopes to be chosen for this position.
12. Our boss doesn’t like to be interrupted while he is working.
13. Do you know him well enough to ask him for some money?
14. I only want to be understood.
15. All the necessary changes may be made any moment.
16. I hope to find a job in accounting.
17. I’m sorry not to have kept my promise.
18. It was a big mistake for them not to keep him as accountant.
Ex.2. Insert “to” where necessary before the infinitives in brackets.

1. We made him (do) it all over again.
2. I recommended him (learn) the laws of my country.
3. The boss made the secretary (repeat) the message.
4. They won’t let you (leave) the Customs area till your luggage has been
examined.
5. Will you help me (fill in) this application form?
6. Please let us (know) about his decision as soon as possible.
7. I’d like him (accept) this invitation.
8. I don’t want anybody (use) the results of my experiments.
9. He made me (sign) this paper.
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10. I saw him (leave) the office.
11. Nobody noticed him (come) in.
12. I don’t want anybody (know) about our plans.
13. She knew him (be) a good marketer.
14. I believe this (be) the only way out.
15. The lawyer advised me (read) the contract carefully.
16. They let us (go out) at the weekends.
17. I saw him (sign) the cheque.
18. They persuaded the bank (finance) the project.

1. Він не хотів, щоб касир перераховував гроші.
2. Всі вважають, що він дуже успішний підприємець.
3. Це змусить менеджерів компанії подумати, як вирішити проблему
захисту свого виробника.
4. Це змусило уряд підвищити ціни на імпортні товари.
5. Я сподівався, що ця новина змусить його підвищити тобі заробітну
платню.
6. Я не хочу, щоб ви контролювали мою діяльність.
7. Він не сподівався, що це питання розглянуть так швидко.
8. Ніхто не сподівався, що ця перспективна компанія стане банкрутом.
9. Ніхто не знав, що примусило їх змінити їхні плани.
10. Я хочу, щоб ви проглянули цей звіт.
11. Що змусило його зробити цей крок?
12. Дозвольте мені дати вам пораду.
13. Мені б не хотілося, щоб ти так погано думав про нього.
14. Вони не сподівалися, що ми закінчимо цей звіт без їхньої допомоги.
Ex.1. Discuss with your groupmates why it makes sense for countries
to engage in international trade.
Ex.2. Which of your country’s biggest trading partners can you name?
Is Ukraine the most trade dependent?
Ex.3. Speak about free trade areas. Do they exist in Ukraine? Do they
have any impact on the country’s economy?
299
1. When the stock market crashed, he took a bath.
2. When he lost his job and could not pay his bills, he was up the creek
(without a paddle).
3. The new trade agreement opens the door to better relations between the two
nations.
4. He was angry about failing the exam and took it out on his friend.
5. He has been on easy street since he won the lottery.

“Associate with men of good quality, if you esteem your own reputation,
for it is better to be alone than in bad company”
(G. Washington)
LESSON 2
Text: Export and Import

Grammar: The Gerund
visible exports (imports)  експорт (імпорт) товарів,

видимий експорт/імпорт
invisible exports (imports)  невидимий експорт (імпорт)
earn (v)  заробляти
purchase (v)  купувати, придбавати
freight  фрахт, перевезення вантажу
borrow (v)  позичати (у когось - from)
the International Monetary Fund  Міжнародний валютний фонд
exceed (v)  перевищувати
trade surplus  надлишок торгового балансу
balance of trade  торговий баланс
trade deficit  дефіцит торгового балансу
Export and Import
Exporting and importing are two aspects of foreign trade.

300
Exports are goods and services produced in one country but sold in
another. Trade in goods is known as visible exports and trade in services is
known as invisible exports. Exports are important because they allow a country
to earn foreign exchange which can be used for buying imports from abroad.
Imports are those goods and services which are consumed in one country
but which have been purchased from another country. Imports of goods such as
food, raw materials, or manufactured goods are known as visible imports;
imports of services such as insurance, tourism, freight are known as invisible
imports.
Imports are paid for by foreign currency earned by exporters, or by
borrowing from foreign governments and agencies like the International
Monetary Fund.
The balance of trade is the difference between payments for imports and
payments for exports.
If exports exceed imports there is a trade surplus or a positive balance of
trade. If imports exceed exports there is a trade deficit or a negative balance of
trade.

earn, purchase, export, import, sell, borrow.

експорт та імпорт; експорт товарів; невидимий імпорт; заробляти
іноземну валюту; купувати товари в іншій країні; сировина; промислові
товари; страхування; перевезення вантажів; позичати валюту;
міжнародний валютний фонд; надлишок торгового балансу; дефіцит
торгового балансу; торговий баланс.
A B
foreign exchange positive balance of trade
exceed transported goods
buy merchandise
important significant
goods purchase
freight surpass
trade surplus foreign currency
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trade deficit negative balance of trade

visible exports, to sell; to lend; to waste; important; to ban.
Ex.5. Consult your dictionary and translate the following word

combinations into Ukrainian:
Capital export; controlled exports; currency export; duty-free export; food
exports; invisible exports; unpaid exports; visible exports.
Consumer imports; dutiable import; free import; merchandise imports;
prohibited imports; protected import; token import.
1. an item, a service, an idea that is sent from one country to another to be sold;
2. an item, a service, an idea that is brought into one country from another;
3. goods, as opposed to services, that are sold to other countries;
4. services such as banking, insurance and tourism that are brought from other
countries;
5. an agency of the United Nations that lends money to encourage trade and
economic development in poor countries;
6. a situation where a country exports more goods than it imports;
7. condition in which there are more goods imported than exported;
8. the transport of goods by sea or air.

1. She … a new car.
2. Sales of the new product … our estimates.
3. Canada … wheat in great quantities.
4. This wine is … from France.
5. Foreign technology is a significant … .
6. This country … luxury items to Northern Europe.
7. Tourism is the most important part of the Cypriot … .
8. Sixty percent of the goods they … come from Asia.
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9. Sometimes governments put … on foreign trade.
10. This … company will be 100 years old next year.
exporting; imports; restrictions; import; invisible exports; invisible
import; imported; exports; exceeded; purchased.

A country spends money … goods it imports and gains money … its
exports.
Valuable though foreign trade is … keeping domestic prices down …
creating competition … home and providing large markets abroad, governments
may have to put restrictions … it, which they usually do … subjecting imports
… customs duties or … restricting some types … exports.
Customs authorities must make sure that imported goods are not sold … a
lower price than that … their country … origin.
(of (2), in, at (2), by (3), on (2), for, through, to)

1. What are the principal aspects of foreign trade?
2. What are exports?
3. What are imports?
4. What do we call visible exports?
5. What do we call invisible exports?
6. Why are exports important?
7. What are imports?
8. What is known as visible imports (invisible imports)?
9. What are imports paid for by?
10. What is the balance of trade?
11. What is a trade surplus?
12. When do we speak about a trade deficit?
Ex.2. Choose the correct term for each definition.

balance of trade, exporting, trade deficit., importing
1. A company is involved in _______ when it is selling products to another
country.
2. The relationship of exports to imports is called the __________ .
3. A country is involved in _________ when it is buying products from another
country.
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4. When a country has a ________ it is buying more goods from other nations
than are sold to them.

 exports
 imports
 a trade surplus/a trade deficit

1. Міжнародна торгівля – це основний фактор розвитку співробітництва
між різними країнами світу.
2. Експорт та імпорт – важливі аспекти міжнародної торгівлі.
3. Експортування – це продаж товарів та послуг в іншу країну.
4. Імпортування – це купівля товарів та послуг в іншій країні.
5. Купівля таких послуг, як страхування, туризм, перевезення вантажу – це
невидимий імпорт.
6. Експортери заробляють валюту, якою країна розраховується за імпортні
товари.
7. Якщо експорт перевищує імпорт, існує надлишок торгового балансу.
8. Якщо імпорт перевищує експорт, ми говоримо про дефіцит торгового
балансу.
9. Експорт товарів – пріоритетний напрям розвитку зовнішньої торгівлі
будь-якої країни.
10. Економіка кожної країни значною мірою залежить від зовнішньої
торгівлі.
Grammar Revision
The Gerund
1. The gerund has the following forms:
Active Passive
Indefinite writing being written
Perfect having written having been written
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2. We use the gerund:
 as the subject of a sentence
Exporting will be our main objective next year.
 as the object of a sentence
I’ve always enjoyed reading.
 after certain verbs:
admit, mind, appreciate, avoid, consider, can’t stand, can’t help, delay,
enjoy, finish, imagine, involve, postpone, propose, risk, stop, suggest
The manager proposed organizing an exhibition.
 after prepositions
after, before, by, when, while, without
The company launched this product without doing the necessary research.
 after verbs and expressions followed by prepositions:
be interested in, be good at, be fond of, be for/against, be used to, instead of,
feel like, think of/about, look forward to, succeed in, approve of, insist on,
object to
I’m interested in learning more about this technology.
 after these expressions:
it’s no use, it’s not worth, it’s no good, to have difficulty
It’s no use asking him. He won’t tell the truth.
Ex.1. Put the verbs in brackets into the gerund. Translate the sentences
into Ukrainian.
1. Stop (argue) and start (work).
2. The boss is against (make) any complaints.
3. I am thinking of (retire) and (go) to Ukraine.
4. If he puts his money into that business he risks (lose) everything.
5. If a thing is worth (do) at all it is worth (do) well.
6. He hates (borrow) money.
7. I can’t stand their (waste) so much time.
8. I thanked him for (solve) the problem quickly.
9. I suggest (postpone) the meeting.
10. It’s no good (complain). Nothing can be done.
11. I can’t help (think) about the interview.
12. We avoid (keep) late hours. Our working day begins very early.
13. The secretary admitted (steal) the money.
14. I believe he is capable of (solve) this problem.
Ex.2. Finish these sentences using a gerund.

1. My favourite activity is … .
2. He can’t stand … .
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3. He is good at … .
4. Some people just can’t help … .
5. We are used to … .
6. I am interested in … .
7. This company is worth … .
8. The customer wants to know who was responsible for … .
9. I feel like … .
10. He admitted … .
11. I am thinking of … .
12. … was the key to the company’s success.
13. It’s no use … .
14. Avoid … .
Ex.3. Complete these sentences using the gerund form of one of the
verbs below.
give, get, make, have, lose, help, work, discuss, get, worry,
meet, analyse, cry, buy, reduce
1. He is interested in … the shares of this company.
2. It’s no use … over spilt milk.
3. This job involves … our international transactions.
4. We are looking forward to … the new Sales Manager.
5. It isn’t worth … about it.
6. You risk … bad results.
7. As we don’t agree about company policy we avoid … this subject.
8. We don’t mind … overtime, if it helps the company.
9. You mustn’t insist on … him. He doesn’t want it.
10. By delaying we risk … this contract.
11. I can’t imagine not … a computer in my office.
12. He apologized for … this serious mistake.
13. He is very pleased with … the job he wanted.
14. It’s no good … her advice – she never listens.
15. Overstaffing should be solved by … the workforce.
Ex.1. Discuss with your groupmates the advantages of trading

worldwide.
Ex.2. Can you say that exporting facilitates the economic growth?
Ex.3. Speak about Ukraine's major exports and imports.
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1. We worked all night to finish the job and we delivered the goods at 9.00
a.m.
2. We spent many hours searching for a solution to the problem; it was a tough
nut to crack.
3. If my stockbroker recommends a share, you can bet your bottom dollar that
it will go down.
4. Are you going to lend me the money or not? I’d like a straight answer.
5. The Prime Minister is convinced that there will soon be a sea change in the
relations between East and West.

“It is happier to be sometimes cheated than not to trust”
(S. Johnson)
LESSON 3
Text: World Trade Organization

Grammar: Infi nitive or Gerund?
The World Trade Organization  Світова організація торгівлі

(WTO)
administer trade agreements (v)  керувати торговельними
угодами
trade negotiations  торгові переговори
settle trade disputes (v)  урегульовувати торгові
конфлікти
legal ground rules  основні правові норми
bind (v)  зобов’язувати (законом і т.ін.)
trade rights  торгові права
oversee (v)  наглядати, стежити за (кимсь,
чимсь)
keep trade policy (v)  дотримуватися торгової
політики
dealings (pl.)  ділові стосунки; торговельні
справи (угоди)
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the World Bank  Світовий (Міжнародний) банк
World Trade Organization
The World Trade Organization (WTO) is the only international

organization dealing with the global rules of trade between nations. Its main
function is to ensure that trade flows as smoothly, predictably and freely as
possible. It does this by:
 administering trade agreements
 acting as a forum for trade negotiations
 settling trade disputes
 reviewing national trade policies
 assisting developing countries in trade policy issues through technical
assistance and training programmes
 reducing protectionism
 cooperating with other international organizations
At the heart of the system are the WTO’s agreements, negotiated and
signed by a large majority of the world’s trading nations. These agreements are
the legal ground rules for international commerce. Essentially, they are
contracts, guaranteeing member countries important trade rights. They also
bind governments to keep their trade policies within agreed limits to
everybody’s benefit. Their main purpose is to help producers of goods and
services, exporters and importers conduct their business.
The WTO is one of three major organizations that oversee international
economic relations among governments. The other two are the International
Monetary Fund, which works to improve payment arrangements and other
financial dealings between countries, and the World Bank, which provides
loans to poorer nations. The WTO headquarters are in Geneva, Switzerland.

administrator, negotiation, settlement, assistance, training, cooperation,
agreement, improvement, arrangement, dealings.
1. flow a) noun b) verb
2. dispute a) noun b) verb
3. guarantee a) noun b) verb
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4. benefit a) noun b) verb
5. conduct a) noun b) verb
6. trade a) noun b) verb
7. issue a) noun b) verb
8. contract a) noun b) verb
9. limit a) noun b) verb

Світова організація торгівлі; керувати торговельними угодами;
форум для торгових переговорів; урегульовувати торгові конфлікти;
допомагати країнам, які розвиваються; торгова політика; технічна
допомога; навчальні програми; співпрацювати з міжнародними
організаціями; основні правові норми; гарантувати торгові права;
дотримуватися торгової політики; міжнародні економічні відносини;
Світовий банк; надавати позики; головне управління.
Ex.4 Match words from list A with words from list B that have
a similar meaning:
A B
global manage
administer universal
dispute supervise
trade lawful
assist transact
cooperate contract
agreement collaborate
negotiate help
legal quarrel
oversee oblige
bind commerce

national; agreement; predictably; legal; agreed; poorer nations.
Ex.6. Consult your dictionary and translate the following word

combinations into Ukrainian.
barter trade; bilateral trade; border trade; cash trade; domestic trade;
exclusive trade; export trade; external trade; fair trade; hire-purchase trade; illicit
trade; invisible trade; lawful trade; licence trade; luxury trade; mail-order trade;
profitable trade; retail trade; service trade; stock trade; tally trade; wholesale
trade.
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1. an international organization that promotes trade in goods and services

between nations;
2. an arrangement between countries to follow certain rules on pricing, import
duties, etc. when buying from and selling to each other;
3. the process of trying to reach an agreement through discussion;
4. the central bank, controlled by the United Nations, that lends money to
member states;
5. a set of rules;
6. business in general in the buying and selling of goods and services within a
country, and with other countries;
7. business done between people or organizations;
8. an agreement, usually written and signed by those making it;

1. His company has just signed a trade … with Japan.
2. This new … company imports craft goods from South America.
3. … between the two countries resulted in a new trade agreement.
4. One of the main functions of the WTO is to settle … .
5. By lowering trade …, the WTO also breaks down other barriers between
peoples and nations.
6. The two companies have had … with each other over many years.
7. Developing countries in the third world have applied to … for development
grants.
8. The growth of … between member states in the EU is remarkable.
9. I’ve had … with him before and he is not to be trusted.
10. Trade union leaders and employers are meeting to … the pay dispute.
11. The WTO, the IMF and the World Bank … international economic relations
among governments.
12. She … the committee meeting to make sure that everything worked
smoothly.
administered; oversee; settle; commerce; the World Bank; dealings
(2); barriers; trade disputes; the negotiations; trading; agreement.
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The World Trade Organization is an international organization that
promotes trade … goods and services … nations. Most nations belong … the
World Trade Organization, often called the WTO.
A WTO member nation has both rights and responsibilities. The most
important right guarantees that a country’s export goods and services get the
same treatment as those … any other WTO member. This treatment includes the
same tariffs and other trade restrictions. The main responsibility … a member
nation is to follow WTO guidelines … international trade. Another important
rule involves the resolution … trade disputes. … case of disagreement … a trade
issue, a member nation agrees to submit the case … a WTO committee …
review. If the committee finds that a country has violated its WTO
commitments, the country must either change its practices or face increased
taxes … its exports.
(in (2), between, to (2), of (3), on (2), over, for)

politics – policy
1. Honesty is the best … .
2. Only senior management can take … decisions.
3. … is the art of government.
4. It is company … to ensure that all employees receive adequate training for
their job.
5. The mayor has been in … all his life.
6. The … of that store is that customers may return merchandise for an
exchange, but not for a refund.
7. She refused to get involved in office … .
8. This President thinks more about internal affairs, such as unemployment and
education, than about foreign … .
9. I am not interested in … .
10. He has chosen a career in … .
11. Many people disagree with the President’s recent foreign … decisions.
12. The WTO’s agreements bind governments to keep their trade … .
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1. What is the World Trade Organization?
2. What is its main function?
3. What does the WTO do to fulfil its main function?
4. What are the WTO’s agreements?
5. Who signs these agreements?
6. What do these agreements guarantee?
7. What do they bind governments to do?
8. What is their main purpose?
9. Who oversees international economic relations among governments?
10. Who does the World Bank provides loans to?
11. Where are the WTO headquarters?
Ex.2. Sum up what you remember about the World Trade

Organization.

Світову організацію торгівлі було створено в 1995 році. Це одна з
наймолодших міжнародних організацій. Вона є єдиною міжнародною
організацією, яка має справу з основними правилами торгівлі між
країнами. Вона керує торговельними угодами і діє як форум для торгових
переговорів. Вона також співпрацює з іншими міжнародними
організаціями.
Урегулювання торгових конфліктів – одне з найважливіших завдань
Світової організації торгівлі.
Угоди Світової організації торгівлі – це основні правові норми
міжнародної торгівлі. Вони гарантують країнам-членам важливі торгові
права.
Світова організація торгівлі також регулює торгівлю послугами та
інтелектуальною власністю.
Головне управління Світової організації торгівлі розташоване в
Женеві (Швейцарія).
Grammar Revision
Infinitive or Gerund?
1. The infinitive is often used when talking about aims and objectives, and the
gerund when the verb is the subject of the sentence.
He made a decision to start a new life.
Learning languages is my hobby.
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2. The infinitive is used after adjectives, adverbs, nouns and pronouns; the
gerund is used after prepositions and conjunctions.
I was surprised to meet him there.
She is certain to retire soon.
He was shocked. He didn’t know what to do.
They have a plan to start a business.
After graduating from the University he set up his business.
He insisted on restructuring the company.
3. Some verbs can be followed by either a gerund or an infinitive. begin, can’t
bear, continue, hate, like, love, remember, start, stop, try, intend, bother,
prefer
4. Some of these verbs change their meanings depending on whether they are
used with the gerund or the infinitive
to remember + infinitive = not to forget to do something
to remember + gerund = to remember something done in the past
to regret + infinitive = to be sorry for something you are doing

to regret + gerund = to be sorry because of something that happened in the
past
to stop + infinitive = to stop so that you can do it

to stop + gerund = to end an action
Ex.1. Divide the verbs in the box into two categories: A-those generally
followed by an infinitive, B-those generally followed by a
gerund. Some verbs may appear in both categories, depending on
their meaning.
admit, avoid, resist, face, offer, miss, intend, remember, regret, stop, risk,
forgive, decide, hate, expect, consider, refuse, start, hope, learn, plan,
Ex.2. Choose the correct postpone, imagine, involve.
way of completing each sentence.
1. Do you remember (to go/going) to the bank last Monday?
2. It’s difficult (to make/making) long-term plans.
3. I remember (to meet/ meeting) your boss at the conference.
4. We’ve made an agreement (to work/working) together.
5. We usually avoid (to discuss/discussing) this subject.
6. You were stupid (to believe/believing) her.
7. He gave up the idea of (to hear/hearing) from his business partner.
8. She has an awful habit of (to interfere/interfering) in other people’s business.
9. This job is not worth (to take, taking).
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10. The problem was too difficult (to solve, solving).
11. We are looking forward (to see/seeing) him.
12. I was fined for (to exceed/exceeding) the speed limit.
13. It’s no use (to explain/explaining) him our problem.
14. He couldn’t resist (to go/going) to see his new office.
Ex.3. Put the verbs in brackets into the correct form (gerund or
infinitive).
1. (Travel) across Europe is much more pleasant than (sit) in the office.
2. I have no intention of (accept) this invitation.
3. He made a lot of money by (trade) in the Stock Exchange.
4. I don’t feel like (work) today.
5. He apologized for (borrow) my computer without (ask) permission.
6. After (discuss) the problem for an hour the committee made a decision.
7. She was the last (leave) the office.
8. We thanked him for (solve) our problem so quickly.
9. I expected the boss (keep) his promise.
10. I wish (see) the senior manager.
11. He expects me (lend) him some money but I have no intention of (do) it.
12. He used (work) more efficiently when he was younger.
13. On (hear) the news he got very angry.
14. She avoided (speak) to the secretary.
15. A really prestigious job is worth (look) for.
Ex.4. Translate into English using a gerund or infinitive.

1. Мені прикро, що я запізнився.
2. Вона заперечувала, що вкрала гроші.
3. Всі знають, що наш бос дуже прогресивна людина.
4. Чи можу я покластися на те, що ви владнаєте цю справу?
5. Важко сказати, що він мав на увазі.
6. Я не розумію, чому він ухиляється від розмови про це.
7. Я з нетерпінням очікував на інтерв’ю.
8. Пізно сперечатися про це. Вже нічого не можна змінити.
9. Я пам’ятаю, що зустрічав його в вашому відділі.
10. Я не ризикнув запропонувати йому цю роботу.
11. Я наголошував на тому, щоб поговорити з президентом компанії.
12. Вашому босу не легко догодити.
13. Він зацікавився працівником, який відповідає за складання фінансових
звітів на фірмі.
14. Єдине, що вам потрібно зробити – це скласти бізнес-план.
15. Я пам’ятаю, що бачив цю рекламу в газеті.
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Ex.1. Your boss has asked you to make a short speech about the WTO.
Make a draft of what you intend to say.
Ex.2. Discuss the benefits for Ukraine from joining the World Trade
Organization.

1. She had kittens when she found out her company was bankrupt.
2. He has no imagination. He can’t see beyond the end of his nose.
3. He isn’t worth his wages; it’s time we gave him the elbow.
4. He is a great hand at giving advice, but when it comes to doing some work,
he is not so good.
5. I’d love to take a holiday with you but I am tied hand and foot to my
business.

“Negotiation is a game. A serious one but still a game.”
(Gary Karrass)
LESSON 4
Text: Business across Cultures

Grammar: The Participle
do’s and don’ts  правила поведінки

spell out (v)  розшифровувати; пояснювати
точно
superior  начальник, старший
bow (v)  кланятися
patience  терпіння, терплячість
gift  подарунок
acceptable  прийнятний
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embarrasment  збентеження; розгубленість;
замішання
tip  чайові; невеликий грошовий
подарунок
bill  рахунок (за послуги, товар, тощо)
custom  звичай
cause offence to smb (v)  образити (скривдити) когось
be offended (v)  бути ображеним
Business across Cultures
Before doing business abroad it is important to understand the social and

business culture of a country in which you are going to operate. The following
are just a few of do’s and don’ts for business people visiting a foreign country:
 In the USA, it is polite to look people in the eye, to offer your hand, and to
smile;
 In France people shake hands much more than Americans or most
Europeans; if you fail to shake hands, you may be considered rude;
 In Japan and Korea bowing, rather than shaking hands, is usual behaviour;
 In Turkey, your coat should be buttoned when you are with superiors;
 Never discuss business over dinner in France;
 Don’t pass documents with the left hand in Saudi Arabia;
 Don’t expect written contracts in most Moslem countries;
 Don’t expect the contract with South Korean businessmen to spell out all the
details. Written contracts are typically documents that change as conditions
do;
 In Japan it’s very important to get everyone’s opinion. Patience is a prime
factor in their culture. They also avoid saying “no” directly;
 Offer gifts in Japan. The Japanese enjoy giving and receiving beautifully
presented gifts;
 Do not bring liquour to an Arab house. For many Arabs, alcohol is forbidden
by religious law;
 In China expensive presents are not acceptable and cause great
embarrassment. Give a collective gift from your company to theirs;
 In British restaurants a tip is included in the bill. In some Mediterranean
countries, such as Greece and Spain, the customer is expected to pay a little
extra for satisfactory service;
 Don’t criticize royalty in Great Britain;
 In Arab countries, don’t admire an object openly. The owner may feel
obligated to give it to you.
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 Thus, if you are aware of the customs of the country you are visiting, you
will not cause offence or be offended.

fail, consider, behave, avoid, embarrass, criticize, expect, offend, admire.
1. visit a) noun b) verb
2. smile a) noun b) verb
3. offer a) noun b) verb
4. shake a) noun b) verb
5. bow a) noun b) verb
6. cause a) noun b) verb
7. tip a) noun b) verb
8. bill a) noun b) verb
9. present a) noun b) verb

обговорювати ділові питання; передавати документи; письмовий
контракт; пояснювати всі деталі; звичайна поведінка; терплячість;
пропонувати подарунок; дорогі подарунки; збентеження; чайові; рахунок
(за послуги); образити когось; бути ображеним; звичаї країни; правила
поведінки.
A B
custom gratuity
gift costly
operate evade
spell out impolite
rude conduct
behaviour explain in detail
avoid act
expensive habit
tip additional
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extra present

rude; cheap; buttoned; to succeed; patience; to permit; acceptable.
1. formal rules for polite behaviour in a society;

2. something done in a society because of tradition;
3. money given to smb. for doing smth.
4. rules for behaviour;
5. a person who is higher in rank or importance;
6. an agreement , usually written and signed by those making it;
7. smth. given freely to another, a present;
8. a king or queen and family;
9. showing bad manners, impolite.

1. I left the waiter a generous … .
2. It takes time to learn the … for business people visiting a foreign country.
3. My boss gave me a watch as a birthday … .
4. I gave the cab driver a $ 1 … .
5. My … in the company have requested that I cut costs.
6. He does not understand the technological process; you will have … it for
him.
7. Wearing a shirt without a tie is … dress for dinner here.
8. It is British … to drink tea at four o’clock each afternoon.
9. She was … that we didn’t accept her invitation to dinner.
10. The basic service costs $ 100 plus 20 percent for the … .
11. This hotel is more … than I expected.
12. A salesperson must … market prices.
13. It wasn’t very … to leave without saying thank you.
14. It was … to walk away while that customer was talking to you.
rude; polite; be aware of; expensive; extras; offended; custom;
318 gift; do’s and don’ts; tip (2).
acceptable; to spell out; superiors;

A guide to doing export business in Japan
 Be prepared … important cultural and language difficulties. This may seem
obvious but some businessmen try to get by … Japan … hiring a good
interpreter who can also explain Japanese traditions and customs.
 Trade … personal contact … a senior level. This is more important that
trading … price.
 Patience pays dividends. It may take several visits before an order comes … .
 Quote … local currency.
 Emphasise your product’s country … origin.
 Offer gifts. However, it is not the value … the gift, but the fact it is a present
… you that counts.
(for, in (2), without, on (2), at, through, of (2), from)

1. What should a businessman know before starting business abroad?
2. In which country is it not recommended to discuss business over dinner?
3. In what countries will you never make written contracts?
4. Where do they change written contracts as conditions do?
5. What is considered polite in the USA?
6. What behaviour is usual in Japan and Korea?
7. In which country do they avoid saying “no” directly?
8. You shouldn’t bring liquour to an Arab house. Why?
9. What gifts are not acceptable in China?
10. Should you not criticize royalty in Great Britain?
11. In which country should you shake hands?
12. Is the custom of giving tips still common in many countries?
13. When do you tip and how much?
Ex.2. Put these statements about customs and culture into the correct
order.
1. Clock/bad/a/is/symbol/of/a/luck. (China)
2. Directly/”no”/avoid/they/saying. (Japan)
3. never/business/must/you/discuss/dinner/over. (France)
4. Luckiest/is/the/number/eight. (China)
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5. Responsibility/managers/to/expected/are/full/take. (Saudi Arabia)
6. Always/taught/have/not/been/business/do/to/anyone/but/with/friends/ they.
(Mexico)
7. Business/do/they/quickly/as/possible/as. (Britain)
8. You/if/shake/fail/hands/to/may/considered/be/rude/you. (France)
9. Take/they/queues/seriously/very/never/and/ jump/line/in. (Britain)
10. Make/people/clear/a/distinction/personal/between/business/and/
relationships. (Germany)
11. Titles/required/job/are/generally/talking/to/when/colleagues/business.
(Mexico)
Ex.3. Are the statements in exercise 2 true for Ukraine? Write similar
sentences about customs in Ukraine, using the following topics:
 parties
 business
 lucky numbers or objects
 politeness
Ex.4. Compare the customs in the text with those in Ukraine. What are
the differences and what are the similarities?
Grammar Revision
The Participle
1. The participle has the following forms:
Active Passive
Present (Participle I) writing being written
Perfect (Participle I) having written having been written
Past (Participle II) ____ written
2. Participles can be used like:

a) verb forms. Participles are used with the auxiliary verbs “be” and “have” to
make progressive, perfect and passive verb forms.
He was answering questions when I came in.
He has forgotten my name.
You’ll be informed soon.
b) adjectives
Your offer seems exciting. The office window is broken.
c) adverbs
The secretary ran screaming out of the house.
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d) clauses
Having spent all his money, he asked father to help him.
Being unable to help, we gave him some money.
3. The structure object + participle (clause) is used after verbs of sensation
(e.g. see, hear, feel, watch, notice, smell) and some other verbs (e.g. find,
get, have, make)
I saw your secretary sending a fax to our business partner.
I found him speaking to a customer.
You ought to get your car repaired.
Ex.1. Insert Participle I of the verbs in brackets.

1. We spent about an hour (take) our papers to the office.
2. Generally (speak), this problem is rather difficult.
3. (Work) a year in Germany he returned to Ukraine.
4. He sat in his arm-chair (smoke) a cigarette.
5. Our new manager is a young man (wear) glasses.
6. The Japanese businessman bowed low and (take) my hand kissed it.
7. (Say) this, he left the room.
8. (Be) busy, he postponed his trip to Italy.
9. I stood (watch) the people who were entering the office.
10. He went to work, (leave) the letter on the dressing-table.
11. The conference (take) place at the university is devoted to the problems of
green tourism.
12. While (wait) for you I have translated this article.
Ex.2. Insert Participle II of the verbs in brackets.

1. She entered the room (accompany) by her superiors.
2. My boss looked (worry).
3. The letter will lose its importance if (not deliver) immediately.
4. (Press) for time, he couldn’t even phone his wife.
5. She will certainly help if (ask).
6. When (invite) he always takes part in our discussions.
7. The problems (discuss) were of great importance.
8. Those (interview) will start training next week.
9. The (lose) document was found.
10. The secretary didn’t even look at me as though too (occupy) with what she
was writing.
11. I am going to have my car (repair) next week.
12. In Turkey your coat should be (button) when you are with superiors.
13. Don’t expect (write) contracts in most Moslem countries.
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Ex.3. Insert Participle I or Participle II of the verbs in brackets.
1. When (pay) by cheque, you must show a bank card.
2. (Know) that he was in trouble, I offered to help him.
3. (Find) nobody in the office, I left.
4. (Write) in very bad handwriting, the message was difficult to read.
5. Time (permit), we shall stay for a few days in London.
6. The solution (adopt) was welcomed by our manager.
7. All things (consider), there is little hope of his arrival.
8. I was driving a car (lend) me by my close friend.
9. The necessary sum of money (save up), I could buy a new computer.
10. We found her (work) in the office.
11. I heard them (argue) again.
12. (Hope) to find the lost letter, he searched everywhere.
13. (Think) he had made a mistake somewhere, the accountant went through his
calculations again.
14. When (ask) to help them she refused without hesitating.
Ex.1. Discuss with your groupmates what social etiquette is important

for business travellers to Ukraine.
Ex.2. How much do you know about different cultures around the
world?
Ex.3. Think about what information or advice you could give to

visitors to your country.
Ex.4. Do people tip in Ukraine? Do you think we should tip? Why?

Why not?

1. In any profession, you have to learn to take the rough with the smooth.
2. Politicians take pot shots at each other during election campaigns.
3. I talked myself blue in the face trying to persuade her to save money for
retirement.
4. She really sank her teeth into the problem and solved it.
5. We have a difficult problem and I must put on my thinking cap and find a
solution.
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“Patience pays dividends”. (Anonymous)
TEST 7 (UNIT VII)

1. Trade between buyers in one country and sellers in other countries.
a) domestic trade b) foreign trade c) national trade
2. An amount that is taken off the normal selling price of a product.

a) ) trade surplus b) trade mark c trade discount
3. A group of countries that agree to trade with each other on favourable terms.
a) trade association b) trade block c) trade creditor
4. An amount that must be paid when particular goods are imported into a country, or something when they are
exported.
a) barrier b) restriction c) tariff
5. A limit on the amount of a particular good that may be imported into a country during a given period of time.
a) protectionism b) quota c) deficit
6. A set of restrictions imposed by a government on buying and selling foreign currencies.

a) exchange control b) exchange rate c) foreign exchange
7. Trade between countries with few government restrictions.

a) external trade b) international trade c) free trade
8. The level of material comfort and wealth that a person or community has.
a) living wage b) living standard c) standard rate
9. A situation where a country exports more goods than it imports.

a) trade investment b) trade surplus c) trade deficit
10. Goods, as opposed to services, that are sold to other countries.

a) invisible exports b) visible imports c) visible export
11. The transport of goods by sea or air.

a) carriage b) freight c) front loading
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12. An item, a service, an idea that is brought into one country from another.
a) export b) import c) cargo
13. An international organization that promotes trade in goods and services between nations.
a) the World Trade Organization b) the World Bank
c) the International Monetary Fund
14. The process of trying to reach an agreement through discussion.

a) negligence b) necessity c) negotiation
15. An agreement, usually written and signed by those making it.

a) commerce b) contract c) dealings
16. Something done in a society because of tradition.
a) customary b) customs c) custom
17. The central bank, controlled by the United Nations, that lends money to member states.
a) the Central Bank b) the Federal Reserve System
c) the World Bank
18. The amount by which the value of a country's imports is greater than the value of its exports.
a) trade bill b) trade deficit c) trade surplus
19. An arrangement between countries to follow certain rules on pricing, import duties, etc. when buying from
and selling to each other.
a) trade association b) trade agreement c) trade directory
20. A small amount of money (in addition to the normal charge) to a waiter, taxi-driver, etc. to thank him/her.
a) tip b) title c) token
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UNIT VIII BUSINESS COMMUNICATION
LESSON 1
Text: Computers
Grammar: Countable and Uncountable Nouns
application  застосування; використання

impact  вплив
simplify (v)  спрощувати
store (v)  зберігати
retrieve (v)  відшукувати, видобувати (дані)
data  дані
user  користувач
desktop  настільний комп’ютер
laptop  переносний комп’ютер (ноутбук)
palmtop  кишеньковий портативний
комп’ютер
hardware  апаратне забезпечення
software  програмне забезпечення
malfunction  порушення функціонування
bug  помилка в програмі
hacker  хакер
Computers
Computer use continues to grow and develop in all spheres of our life. Its
applications have had a great impact on the business world. Computers have
helped society by increasing productivity and simplifying many services, such
as checking accounts, credit cards, and telephone service.
A computer is an electronic machine that can store, retrieve, and process
data with great speed and accuracy.
A PC is a personal computer which is the standard computer for most
individual users. There are various sizes of personal computer, including a
desktop, and portable types such as a laptop, a notebook or a palmtop.
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UNIT VІII BUSINESS COMMUNICATION
Hardware is the actual machinery of a computer, the circuits, wires, and
drives.
Software contains the instructions that tell a computer what to do at every
step along the way. Software is entered into a computer in the form of a
program. Some programs (called viruses) are deliberately designed to cause
problems in a computer system. They are hidden in programs, and are not
obvious to users.
A virus is an error that is introduced into a program with the intention of
causing a malfunction. A computer may crash and stop working altogether.
This may be caused by a bug (an error in the software).
A hacker is a person who gains unauthorized access to computer systems.

growth, application, simplicity, storage, user, intention, retrieval.
1. use a) noun b) verb
2. impact a) noun b) verb
3. speed a) noun b) verb
4. store a) noun b) verb
5. process a) noun b) verb
6. design a) noun b) verb
7. malfunction a) noun b) verb
8. bug a) noun b) verb
9. access a) noun b) verb

мати великий вплив; діловий світ; збільшувати продуктивність;
спрощувати послуги; кредитна картка; зберігати, відшукувати та
обробляти дані; індивідуальний користувач; кишеньковий комп’ютер;
настільний комп’ютер; переносний комп’ютер; апаратне забезпечення;
програмне забезпечення; порушення функціонування; помилка в програмі;
хакер; застосування комп’ютерів.
similar meaning:
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A B
impact intent
application mistake
simplify conceal
accuracy intentionally
deliberately exactness
hide make less complex
error use
intention influence
Ex.5. Look at these words which are used to describe computer

equipment. Match them with the correct definition from the
list below.
1. the part of a computer that holds the display screen;

2. the set of keys that you use to enter information into the computer;
3. a small device that controls the movements of the cursor (the small
vertical line) on the screen;
4. a machine connected to the computer which you use to transfer
information onto paper;
5. a device or program that enables data to be transmitted over the telephone
line;
6. a device that reads data from paper and enters it into the computer;
7. part of a computer on which data is stored long term;
8. a machine that reads data from and stores data on a disk, a hard disk or a
floppy disk;

1. Computers have … in business.
2. Let’s … the job by dividing it into smaller tasks.
3. Computers process … to create information.
4. The … of that computer simply turns it on and starts typing.
5. We have three … in our office.
6. That store sells computer …, such as PCs, printers, and modems.
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7. I use communications … to exchange knowledge with other computer
users.
8. The computer virus caused … .
9. … allow our employees to keep in touch with the office while on business
trips.
10.… is a computer fanatic, often someone who illegally enters computer
systems.
11.A computer crash may be caused by … .
12.Have you seen the … application that allows you to translate your
documents into English?
a hacker, palmtops, a malfunction, software (2), hardware, desktops,
user, data, simplify, applications, a bug.
Ex.7. Study the verbs which are usually used when talking
about using computers. Consult your dictionary and
translate them into Ukrainian.
click (on) e.g. First click on “file”, then on “new”, and then start
typing.
edit e.g. The company annual report was edited.
enter e.g. The command on the computer screen told me to
enter my name, so I typed it in.
insert e.g. The tables were inserted and the report was
finished.
open e.g. Open the file called “management” and you’ll get
the information you need.
print e.g. He printed a letter on his computer’s printer.
save e.g. Please save the paragraph on your screen so it
will not be lost.
switch on e.g. I’ve forgotten to switch on the printer.

1. What is a computer?
2. What impact do computers have on the business world?
3. What is a PC?
4. What kinds of personal computers do you know?
5. What is hardware?
333
6. What does software contain?
7. What causes problems in a computer system?
8. What is a virus?
9. What do we call a person who gains unauthorized access to computer
systems?
10. What kind of PC would you prefer to have, a desktop or a laptop?
Ex.2.Sum up what you remember about:

 personal computers
 hardware and software
 viruses
Grammar Revision
Countable and Uncountable Nouns

1. Countable nouns are those that have both a plural and singular forms:
things/persons that we can count. They are used with words such as the, a,
several, many, (a) few and numbers.
e.g. a computer, two computers
2. Uncountable nouns have only one form. This may be grammatically
singular:
e.g. advice, information, equipment, traffic, progress, work, trouble,
furniture, news, money, cash, knowledge, luck, fun, accommodation,
expertise, feedback, hardware, leisure, weather, bread, behaviour; or
grammatically plural:
e.g. personnel, police
3. Uncountable nouns cannot take the indefinite article (a/an), they are used
with words such as some, much, (a) little. You can’t use numbers with
them.
4. Some nouns can have both plural and singular verb forms
e.g. team, public, government, committee, group, media, staff
5. Some nouns are countable with one meaning and uncountable with another
meaning.
e.g. That conversation took too much time.
How many times have I heard that?
Ex.1. Identify the countable and uncountable nouns in the list below:
money, economics, cheque, profit, production, product, progress,
furniture, news, information, desktop, hardware, hacker, user, luggage, advice,
business, virus, bug, equipment, feedback, personnel, bond, job.
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Ex.2. Make sentences using the prompts below.
1. Some people /be/always/late.
2. This new equipment/be/expensive.
3. The police/be looking for/the stolen/computer?
4. His/advice/be/useful?
5. The information/you/need/be/in the computer.
6. The personnel/be/pleased/with/the new/ equipment?
7. The board/discuss/the financial/statement/yet?
8. Where/be/the money/that/you/borrowed/yesterday?
9. The weather/be/really/good/today.
10. Hardware/be/the actual/machinery/of/a computer.
11. All/the luggage/be/here/in the office?
12. Philips’ headquarters/be/in Eindhoven/the Netherlands.
Ex.3. Complete the sentences below by choosing the correct alternative

of the two given in brackets.
1. The letter contained very … useful information. (few/little)
2. He has got so … money that everyone envies him. (much/many)
3. … prices rose during the second half of month. (most/less)
4. The speaker was given very … time. (few/little)
5. We had to learn … information. (much/many)
6. This new encyclopedia contains … knowledge. (much/many)
7. You’ve heard so … news that you know everything about this event.
(many/much)
8. She’s made … progress this year. (many/much)
9. We have … time before the end of the meeting. (few/little)
10. How … times have you seen this film? (much/many)
11. How … money have you got? (many/much)
12. We need … data before we make a final decision. (much/many)
Ex.1. Speak about the role of computers in the business world.
Ex.2. Discuss with your groupmates the Pros and Cons of using
computers.
Ex.3. What computer and software companies do you know? Were

some of them created in Ukraine?
335
Ex.4. You have just discovered that your new computer program has a
bug in it. What are you going to do?

situations where you could of them.
1. First, he lost a lot of money in the stock market, and then when his house
burned down, that really cooked his goose.
2. He makes unnecessary mistakes and leaves himself wide open to being fired.
3. That college admits only the cream of the crop of high school students.
4. He fired one employee after another and each time cried crocodile tears
about having to do so.
5. He wheels and deals in selling used cars.

“Man’s character is his fate”
(Chesterfield)
LESSON 2
Text: Internet. WWW.

Grammar: Either … or; both … and; neither
… nor.
network  мережа
browser  броузер (програма)
surf the Net (v)  мандрувати по мережі в пошуках
інформації, здійснювати серфінг
по мережі
download (v)  завантажувати
the World Wide Web (WWW)  всесвітня мережа
web page  веб-сторінка
Internet. WWW.
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The Internet opens up vast resources and business opportunities for
millions of users around the world and makes communication the easiest it has
ever been.
The Internet is a worldwide network of computers, holding vast
quantities of data that you can access directly from a PC.
An intranet is a network which uses the same technology as the Internet.
However, an intranet is private, and can only be accessed by a particular group
of people who have permission to look at the intranet pages. Intranets are often
used in business and educational contexts.
A piece of software called a browser is needed to access the Internet.
Once you are connected, you can surf the Net i.e. move from one place the
another, looking for information on the Internet. If you find something of
interest you can download it, i.e. copy a file from an online service to your
computer.
The World Wide Web, also referred to as the Web (WWW), is
considered by many users to be the most exciting aspect of the Internet. It is a
universe of pages containing text, images, sounds, and video clips. The pages of
the Web cover a vast range of topics, presented in an attractive, interesting, and
easily accessible form.
The information on the Web is displayed in websites. A website can
consist of one or many web pages. Websites are written in HTML, a special
programming language.

technology, privacy, education, excitement, attraction, interest, access.

величезні ресурси; всесвітня мережа; велика кількість даних; мати
дозвіл; мова програмування; веб-сторінка; в легко доступній формі;
мандрувати по мережі в пошуках інформації.
Ex.3. Match the words with similar meanings.

search, browse, select, put through, surf, choose, look for, connect.
337
1. a network of the places you can visit on the Internet to view, listen to, and
save text, sound or video;
2. a huge computer network of electronic mail and information, used by
millions of people and organizations all over the world;
3. connected to other computers by modem;
4. to save an electronic file from one computer to another by modem;
5. company that sells Internet service;
6. a computer networking link restricted to a specific group of users;
7. to browse electronically through the Internet;
8. to read through data files;

1. … opens up vast possibilities for managers.
2. I recommended him to search … for information about vacancies in the
banks.
3. You should prevent employees from … during working hours.
4. … can only be accessed by a particular group of people.
5. Many banks offer … services to their clients.
6. … cover a vast range of topics.
7. Once you are connected to …, you join a global community of over 50
million users.
8. To gain … to the Internet, you must first open an account with a service
provider.
9. Some of the most entertaining … are those run by fans.
10. … is simply a program that enables a computer to download and view pages
of the Web.
11. I enjoy … the Internet.
12. I was … through their catalogue.
13. … is a group of interconnected computer systems at different locations that
are able to exchange information with one another.
14. You can … our files from the Internet.
computer network; a web browser; websites; access; web pages;
online; the Intranet; surfing the Net; the Web; the Internet (2);
download; surfing; browsing.
338
Ex.6. Not many people who communicate simultaneously on
the Internet can type very quickly. A number of
abbreviations have been adopted to make life easier for
them. Study these abbreviations and use them while
typing your messages.
AFAIK As far as I know
BCNU Be seeing you
BRB Be right back
BTW By the way
CUL See you later
FAQ Frequently asked questions
IMO In my opinion
LOL Laughing out loud
OIC Oh I see
RUOK Are you OK?
SO Significant other
THK Thanks
TIA Thanks in advance

Why waste your time surfing the Internet, when we can find your
favourite piece … music … you … seconds? We specialize … finding melodies
to suit every taste … hard rock … country music. Just visit our website and … a
matter … seconds you’ll be downloading files containing your favourite songs.
You can also browse … our catalogue … over a million titles and find … more
… your favourite stars … accessing our huge database.
(of (3), for, in (3), from, to, through, out, by, about)
(From D. Evans. Business English Verbs, Penguin Quick Guides)

1. What is the Internet?
2. What possibilities does the Internet open up for millions of users around the
world?
3. What is the Intranet?
4. Can the Intranet be accessed by everyone?
5. Where are intranets used?
6. What is needed to access the Internet?
7. What is meant by “surfing the Net”?
339
8. What is the World Wide Web?
9. What do the pages of the Web cover?
10. Where is the information on the Web displayed?
11. How many web pages can a website consist of?
12. What language are websites written in?
13. How much time do you spend surfing the Internet?
Ex.2. Explain the meaning of these words:

 The Internet
 The Intranet
 The Web
Ex.3. Sum up what you remember about the Internet and the World
Wide Web.
Grammar Revision
Either … or; both … and; neither … nor

a)
1. We use either … or to talk about a choice between two possibilities.
Either you or I can phone him.
2. We use both … and to join two ideas.
She speaks both English and German.
3. We use neither … nor to join two negative ideas.
He speaks neither French nor Spanish.
b)
1. We use either alone to mean “I don’t mind which one.”
“Do you want to go to the cinema or to the theatre?” “Either”
2. We use neither alone to mean “not one or the other”
“Are we going to the theatre or to the cinema?”
“Neither. We are going to the museum.”
3. We use both alone to mean “one and the other.”
“Do you like jazz or country music?” “ I like both.”
Ex.1. Complete these sentences with both … and, either … or and

neither … nor.
1. Where would you like to go? We can go … to the theatre … to the museum.
2. She promised to contact me but she … phoned … wrote.
3. These companies … sell … rent cars.
4. The pages of the Web are … attractive … interesting.
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5. … the Internet … the Intranet use the same technology.
6. The information was … useful … interesting.
7. … we … he was tired.
8. He wants to be … a banker … an accountant.
9. This car is … expensive … uncomfortable.
10. She owns … a house … a car.
11. It is … more economical … quicker to use my computer.
12. She has … a pleasant personality … the right qualifications for this job.
13. I am very busy … this week … next week.
14. I can go … by car … by train.
15. I trust … the lawyer … his partner.
Ex.2. Complete these sentences with either, neither, both.

1. … of the candidates deserved promotion.
2. Is … of you interested in this information.
3. … job was suitable for him.
4. … of the proposals was interesting.
5. … computers are very good.
6. Can … of you surf the Net during working hours?
7. … of my partners is Ukrainian.
8. … cars are very reliable. I don’t know which one to buy.
9. … of the investments are attractive.
10. … friends worked very hard and now they have their own business.
11. I can accept … proposal.
12. … of them worked very efficiently.
13. … plan is acceptible.
14. We can follow … route to go there.
15. Cheque or credit card – you can use ….

1. Ні він, ні його діловий партнер не прийшли на засідання Ради
Директорів.
2. Як я, так і мій друг зробили все можливе, щоб допомогти йому
вирішити цю проблему.
3. Чи я, чи мій секретар зателефонуємо вам.
4. Він був такий знервований, що не міг ні працювати, ні відпочивати.
5. Або ви зміните свої плани, або ми залишимось вдома.
6. Ні він сам, ні його діти не вміли скористатися нагодою.
7. Як я, так і мої друзі широко користуємося Інтернетом.
8. Або ви будете змушені купити комп’ютер, або ви не зможете виконати
цю роботу.
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9. Не хвилюйтесь, або я або мій друг зустрінемо вашого партнера по
бізнесу.
10. Ні він, ні його колеги не змогли реалізувати цей проект.
Ex.1. Talk to your groupmate about the Internet.

Discuss the following points:
 what experience you have of it
 what you use the Internet for
 how important you think it is
 what goods or services you have bought over the Net
 what you would prefer not to buy over the Net
Ex.2. Discuss with your groupmates the effects the Internet will have
on our lives.

1. The solution that you propose only skims the surface of the problem.
2. My boss fenced me in so much that I couldn’t do my job.
3. Shoppers are few and far between today because of the bad weather.
4. The office manager does such a good job that no one will be able to fill her
shoes when she leaves.
5. Right now Susan is having the floor; please don’t interrupt her.

“When you hire people that are smarter than you are, you prove that you
are smarter than they are”
(Anonymous)
LESSON 3
Text: E-mail
Grammar: Possession
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e-mail  електронна пошта

transmission  передача
subscriber  абонент
message  повідомлення; послання
electronic mail box  електронна поштова скринька
identifier  ідентифікатор; ім’я користувача
domain name  ім’я домена, тобто тип організації, якій
належить комп’ютер
E-mail
The most widely-used function on the Internet is e-mail (electronic mail).

E-mail is the transmission and distribution of information through
personal computers linked to the telephone system, which allows subscribers to
send a message directly to another subscriber that will appear in their electronic
mail box.
Using e-mail, you can send messages to anyone with an Internet account,
and most businesses today have an electronic mailing address.
E-mail is cheap and easy to use. In business, e-mail provides cheap and
rapid communication between the employees of an organization, and between a
company and its clients and suppliers.
An e-mail address contains an identifier, i.e. the user name. After that
comes the symbol “@” (pronounced “at”), followed by the domain name, which
identifies the server that is used to send your mail, the category of organization
and the country code. The different elements of the domain name are separated
by dots. There is no full stop at the end.
Example: chef@coral.com.cy
chef @ coral .com .cy
identifier “at” symbol name of type of country
organization organization
This e-mail address is said in the following way: chef, at coral, dot com,
dot Cy.
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transmit, distribute, compute, subscribe, communicate, employ, identify,
serve.
Ex.2. Τhe following words can be used in more than one way.
Underline the correct part of speech for each word as it is used
in the text.
1. e-mail a) noun b) verb
2. link a) noun b) verb
3. address a) noun b) verb
4. name a) noun b) verb
5. code a) noun b) verb
6. dot a) noun b) verb

електронна пошта; передача та розповсюдження інформації; абонент;
посилати повідомлення; електронна поштова скринька; електронна адреса;
дешевий та швидкий зв’язок; постачальники; працівники; сервер; код
країни.
1. the transmission and distribution of information through personal computers;

2. a short written or spoken note;
3. it describes the server that is used to send your e-mail, the establishment and
the country name;
4. the user name;
5. very fast;
6. a business that supplies goods or services to a purchaser
7. it has two parts: the user name and a domain name; separated by an @
symbol.
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Ex.5. Study the verbs which are used when talking about
communicating by e-mail. Consult your dictionary and
translate them into Ukrainian.
attach e.g. The report is attached to this e-mail.
call up e.g. He called up the document from the disk.
delete e.g. I didn’t need it, so I deleted it.
e-mail e.g. I e-mailed my order to the company.
forward e.g. The secretary is forwarding my report to you.
log e.g. I logged on to my computer this morning and
found this message.
undo e.g. It was a mistake, so I tried to undo the
command.
wipe e.g. The file was wiped from the computer.

1. I placed a book order by … .
2. To find out more, visit our … .
3. I’ve finished the report and … it to this e-mail.
4. Have you … this information to our business partners?
5. People need your … in order to send messages to your account.
6. … allows users to send and receive texts, graphics, sounds and images.
7. If the computer trying to deliver your … does not recognize the …, it will
automatically send you a warning e-mail.
8. He … me all kinds of e-mail jokes he receives from his friends.
9. The easiest way to erase the text you don’t need is to highlight it and press
the … key.
10. Did you … a message on an answering machine yesterday?
delete; forwards; mailing address; message; e-mail address; e-

mailed; attached; website; e-mail (2), leave.
Ex.7. Which of these means of communication do you use?

e-mail; fax, CD-ROM; cable TV; the Internet; satellite TV.
Match them with the correct definition from the list below.
1. a means of sending or receiving messages in electronic form through
telephone lines;
2. a means of storing information on a disk to be read by a computer;
3. a system which allows computer users to send and receive messages;
4. a type of television service that broadcasts its programs by cable, giving its
customers access to more channels;
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5. a huge computer network of electronic mail and information, used by
millions of people and organizations all over the world;
6. a type of television service that broadcasts its programs using a satellite in
space.

1. Which is the most widely-used function on the Internet?
2. What is the e-mail?
3. Whom can we send messages by e-mail to?
4. Is e-mail considered to be expensive?
5. What communication does e-mail provide in business?
6. What does the e-mail address consist of?
7. Does e-mail save time, or does it just make more work?
8. Should employees send and receive personal e-mails at work?
Ex.2. Explain the meaning of these words and phrases:

 subscriber
 identifier
 domain name
Ex.3. Sum up what you remember about E-mail.
Grammar Revision
Possession
1.
a) We use ’s or s’ to indicate possession with the following nouns:
 human nouns
Tom’s report; Tom and Mary’s report
 animal nouns
the lion’s share
 time nouns
tomorrow’s meeting
 location nouns
Ukraine’s largest city
 organization nouns (= a group of people)
the company’s success
b) We add ’s to singular nouns
Mary’s brother
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 We add ’only to plural nouns ending in –s
my parents’ shares
 If a plural noun doesn’t end in –s, we use ’s
the children’s books
2. We normally use … of … with things
the beginning of the report.
Ex.1. Join two nouns using either ‘s or … of …

1. the newspaper/yesterday
2. the president/the company
3. the results/the negotiations
4. the financial policy/the company
5. the office/the accountant
6. the financial statement/the beginning
7. the financial results/last year
8. the decision/the Board of Directors
9. the shares/the company
10. the new car/Lucy
11. the E-mail address/John
12. the walk/five minutes
13. the social policy/the government
14. the name/the user
15. the failure/the company
16. the firm/my aunt and uncle
Ex.2. Translate into English using possessive forms of nouns.

Повідомлення ділового партнера; вибори нового президента
компанії; капітал акціонерів; електронна адреса нашої компанії; рішення
Ради Директорів; абонентська поштова скринька; успіх компанії; заробітна
платня працівника; прибуток компанії; борги підприємства; обов’язки
керівництва; права споживача; цінні папери біржового маклера;
аудиторський звіт, офіс кeрівника компанії.
Ex.3. Decide if each of the phrases is correct, and if it is not, correct it.
1. Have you bought today’s newspaper?
2. Tomorrow conference has been cancelled.
3. My office is about ten minutes drive from my house.
4. Ukraine imports have fallen lately.
5. The personal manager’s assistant looks through all the application forms.
6. Those are two friends’ of my boss.
7. Is that E-mail address yours or your friends?
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8. This company is the country top suppliers of software.
9. This radio station will be broadcasting our Managing Director speech at 2
p.m.
10. The employees’ salaries will be increased twice.
11. A shareholders’ meeting will be the last this fiscal year.
12. The manager reaction was unexpected.
Ex.4. In a department store you often see signs like “Men’s Shoes” or
“Children’s Toys”. Think of some other things that are just for
men, women, children, etc.
Ex.5. Look through a newspaper article and underline possessive

forms of nouns.
Ex.1. Give your opinion about some of these topics:

 computer games
 E-mail
 information technology
Ex.2. You have just received the e-mail from your business partner,
confirming his visit. Send the e-mail to him. In your reply you
should:
 thank him for the message
 apologize
 explain that he will have to change the time of his visit; give a reason
 apologize again
 end the message appropriately

1. Don’t spill the beans about how much money I make; I don’t want him to
know.
2. She plans events ahead of time and is well organized.
3. The corporation went under last year.
4. He is very clever and will go far in life.
5. After he was caught in a lie, he worked under a cloud because no one trusted
him.
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“Time heals all wounds”.
LESSON 4
Text: Doing Business on the Internet

Grammar: Numbers (fractions, decimals,
percentages)
enquiry  запит; запитання

corporate website  корпоративна веб-сторінка
publicity  реклама, рекламування;
пропагування
E-commerce/online trading  електронна торгівля
bricks-and-mortar  традиційна торгівля
clicks-and-mortar  поєднання електронної торгівлі з
традиційною
time-saving method  метод, що заощаджує час
Doing Business on the Internet
Companies can use their presence on the Web to access the growing
number of websites of interest. There are different ways in which businesses can
benefit from its functions:
 Businesses use e-mail to deal with customers, to make and respond to
enquiries quickly and to communicate with employees.
 A corporate website may be used for publicity, for selling or for sharing
information.
 E-commerce or “online trading” has proved to be very successful for some
companies. One of the advantages of this form of trading is that users can
come to the website 24 hours a day. E-commerce has even acted as a form of
advertising and increased levels of business in traditional bricks-and-mortar
shops. But to succeed, a company needs a combination of traditional retailing
and e-commerce: clicks-and-mortar.
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 Marketing on the Web can be achieved by setting up a website and making it
attractive to visitors.
 The Internet is a powerful tool for gathering data. Companies can use it to
look up other companies and their products, access financial information,
find market information, foreign exchange rates and so on.
 Using computer networks to transmit audio and video data between two or
more people in different locations (video-conferences) is a time-saving
method of communication.
 Many companies place their recruitment needs on their own websites or on
the websites of recruitment agencies.
 Large corporations place their annual reports on their websites in order to
provide a service to their shareholders.

presence, response, publicity, trading, location, recruitment.

робити запит; спілкуватися з працівниками; корпоративна веб-
сторінка; ділитися інформацією; електронна торгівля; перевага; збирати
дані; валютний курс; комп’ютерна мережа; відео-конференція; метод, що
заощаджує час; річний звіт; надавати послугу; акціонери, традиційна
торгівля, поєднання електронної торгівлі з традиційною.
A B
access online trading
benefit broadcast
respond collect
gather traditional retailing
transmit answer
e-commerce gain
bricks-and-mortar enter

quickly, successful, advantage, attractive, “bricks and mortar” trade.
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Ex.5. Write the appropriate word or phrase in the following
spaces. Translate the sentences into Ukrainian.
1. Recently there has been considerable expansion of … businesses which
provide integrated media services through networks such as the Internet.
2. … has become a major online service; it reduces company costs.
3. The product has sold well considering it was not given much advance … .
4. Our … is used for delivering stock and bond information.
5. … represents 30 per cent of our total business.
6. The firm tried to avoid adverse … about its faulty products.
7. … is a traditional business that does not operate on the Internet.
8. … on the Web can be achieved by setting up a website and making it
attractive to visitors.
9. A database of employees is maintained on your … .
10. He is the owner of a new … service, specialising in providing a variety of
foodstuffs which can be ordered on the Internet.
11. Cybercash could provide an important stimulus to … sales.
online (2); PC; marketing; online trading; corporate website;
publicity (2); e-commerce; multi-media, bricks-and-mortar.

Financial services companies are rushing to provide teenagers … easier
ways … spending their savings online.
Teenagers are just the sort … people an Internet retailer wants to sell …,
and the things they want to buy – games, CDs and clothing– are easily sold …
the Web.
But paying online is a tricky business … consumers who are too young to
own credit cards.
… most cases, parents pay … these purchases … credit cards, an
arrangement that is often unsatisfactory … them and their children.
One way to help them convert notes and coins … cybercash is … prepaid
cards such … Internet Cash … the US and Smart cards … the UK.
(with (2), of (2), to, on, for (3), in (3), into, through, as)

1. How can companies use their presence on the Web?
2. What do businesses use the e-mail for?
3. What may a corporate website be used for?
4. What is one of the advantages of the E-commerce?
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5. What are bricks-and-mortar shops?
6. What does a company need to succeed in trade?
7. How can marketing be achieved on the Web?
8. What can companies use the Internet for?
9. What is a time-saving method of communication?
10. How can companies use the Web for recruitment purposes?
11. Why do large corporations place their annual reports on their websites?
12. Do you shop on the Internet? What are the advantages and disadvantages?
Ex.2. Sum up what you remember about doing business on the

Internet.
Grammar Revision
Numbers
(fractions, decimals, percentages)
1. Most fractions are expressed using ordinal numbers
1 1 1 5
a third ( 3 ), a fifth ( 5 ), a seventh ( 7 ), five eighths ( 8 )
But there are some exceptions:
a half (½), a quarter (¼), three quarters (¾), two and a half (2½), four and
three quarters (4¾)
2. A full point is used when writing decimals:
0.5 (zero point five), 1.5 (one point five):
233 (two point three three); 4.75 (four point seven five); 5.07 (five point oh
seven)
3. Percentages
50 % (fifty percent); 0,25 % (a quarter of one percent); 2½ % (two and a
half percent); 6.25% (six point two five percent)
4. Numbers are singular
Four thousand; three hundred, two million
5. When a noun following a number is used adjectively, it has no –s plural.
It was a four-year contract.
Ex.1. Write the numbers as words:

1 4 1 4 3 1 2
3;
4.25; 5 ; 0.25; 3.2; 8; 0.75; 2 5; 2.05; 5 4; 6.85; 1 2; 13.62; 3;
0.43; 0.125; 60.17.
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Ex.2. Speak about interest rates. The National Bank of Ukraine has
raised interest rates by:
0.5%; 0.3%; 0.25%; 0.15%; 0.4%; 0.2%; 0.32%; 0.44%; 0.17%; 0.21%;
0.08%.
Ex.3. Remember the words which are used to give approximations

when we are speaking about amount:
approximately, about, roughly, around
Speak about the approximate percentage of total leisure time devoted to
various activities by 20-30 year olds in Ukraine (sports; visiting bars;
televisions; computer games; reading; tourism; visiting discos; social activities;
hobbies; walking; other activities).
Ex.4. Finish each of these sentences so that it means the same as the
sentence printed before it.
1. The interview lasted two hours. It was __________ .
2. I had to pay a parking fine of five euros. It was __________.
3. My employment contract is for five years. This is __________.
4. Our new manager is 32 years old. He is _________.
5. He received a bank note for $ 100. It was __________.
6. His business trip will last ten days. It will be __________.
7. His advanced course in English lasted three months. It was _________.
8. The flight from Kyiv to Vienna took approximately two hours. It was
__________.
9. Her new house cost $ 50,000. It was _________.
10. She offered the driver a note of ten pounds. It was _________.
Ex.1. Discuss with your groupmates the Pros and Cons of virtual
pocket money.
Ex.2. Speak about the role of E-commerce in a contemporary world.
Ex.3. Visit a store that specializes in computer software. Make a list of

all the major areas of a business for which programs are
available.
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Ex.4. Discuss with your groupmates which of these things will change
a lot in future, and how:
 communications
 E-commerce
 online services

1. You have to take what he says with a grain of salt because he doesn’t
always tell the truth.
2. Both toy companies are doing well; their sales are neck and neck.
3. She is up to her neck in financial problems.
4. He found his new job through the old boy network.
5. She is a very active manager and has a finger in every pie.

“Everybody’s business is nobody’s business.”
TEST 8 (UNIT VIII)

1. A device or program that enables data to be transmitted over the telephone line.
a) keyboard b) modem c) hard disk
2. A device that is used for copying a picture or document into a computer.

a) scatter b) scan c) scanner
3. A small device for controlling computer functions.

a) mousse b) mouse c) mover
4. A piece of equipment used for printing documents you have created on a computer.
a) disk drive b) monitor c) printer
5. A computer networking link restricted to a specific group of users.

a) Internet b) Intranet c) WWW
6. A place on the Internet where information is available about a particular subject, organization, etc.
a) website b) web cast c) web traffic
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7. A computer program that allows you to look at and search through information on the Internet.
a) bruiser b) browser c) brunch
8. An address on the Internet.

a) household name b) domain name c) good name
9. A system for sending messages from one computer to another.

a) mailbox b) mail carrier c) e-mail
10. A business that supplies goods or services to a purchaser.

a) shipper b) supplier c) producer
11. The user name (in e-mail address).

a) identification b) identity c) identifier
12. A type of television service that broadcasts its programs by cable, giving its customers access to more
channels.
a) cable TV b) satellite TV c) televisual
13. Buying and selling goods on the Internet.

a) e-mail b) e-commerce c) trade
14. To start using a computer system, for example by typing a particular word.
a) delete b) call up c) log on
15. To move information to your computer from a computer system or the

Internet.
a) to downshift b) to download c) to downsize
16. To look for information on a computer, especially on the Internet.

a) to wipe b) to attach c) to browse
17. To make a computer do something by pressing a button on the mouse.

a) to edit b) to click c) to insert
18. A computer fanatic, often someone who illegally enters computer systems.
a) hacker b) hackney c) hacksaw
19. A minor fault in a computer system or in a computer program.

a) bulge b) bugle c) bug
20. The programs used by computers for doing particular jobs.
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a) hardware b) software c) softwood
REVISION TEST
Choose the alternative that best suits the context.

1. … is the business of selling goods in large quantities and usually at low
prices.
a) retailing b) wholesaling c) franchising
2. ... are large shops which sell a wide variety of products.

a) Department stores b) Greengrocery c) Grocery
3. When two or more people want to start a business together they can
set up a ….
a) concern b) corporation c) partnership
4. The … line was shut down for two hours as a result of damaged machinery.
a) delivery b) production c) control
5. Information on … prices is available to brokers throughout the world.

a) share b) production c) trading
6. Hewlett Packard is known as one of the most reputable … in the electronic and computer industry.
a) customers b) buyers c) suppliers
7. During the bear market a lot of firms went ….

a) ahead b) bankrupt c) melding
8. Monthly salaries of our staff go directly into their ….

a) interests b) invoices c) accounts
9. If you own some shares of a company, you receive … per share.

a) dividends b) interest c) salary
10. He asked his parents if they would pay off his ….

a) debts b) liabilities c) rents
11. We are planning to … $3 million on advertising.

a) lose b) invest c) spend
12. … act as agents in buying and selling shares.

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a) Wholesalers b) Brokers c) Investors
13. He … most of his savings in the Stock Exchange.

a) gave b) fixed c) invested
14. To acquire … in the company which you work for may prove advantageous.
a) a stake b) an investment c) part
15. If I open a saving account I will receive … .

a) a share b) an interest c) a benefit
16. … receive income, known as a dividend, from the companies in which they invested.
a) Stockbrokers b) Shareholders c) Owners
17. In order to raise capital the company intends to issue shares ….

a) on the consumer market b) on the production market
c) on the stock market
18. Of course, our goods are not very cheap, but the prices are quite … for the average consumer.
a) costly b) reasonable c) high
19. Our company specialized in producing … goods.

a) consumer b) consumerism c) consumption
20. … can result if you have no more income to pay your debts.
a) Transfer b) Bankruptcy c) Discount
21. Banks … very high rates of interest on credit loans.

a) offer b) pay c) charge
22. Some strategic industries, such as Atomic Energy and Defence, are too important to be left in … hands.
a) public b) private c) government
23. Ukrainian business is … a lot of foreign capital.

a) importing b) investing c) attracting
24. We’d like to know your views on the possibility of a … venture

with our company.
a) capital b) joint c) business
25. … fix their own commissions for buying and selling shares.
a) Stockbrokers b) Retailers c) Wholesalers
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26. This alliance will help our companies survive in the fiercely … market of today.
a) contrasting b) contemporary c) competitive
27. The … of Harley-Davidson Motor Company are people with a

high average income.
a) suppliers b) target market c) budget
28. The successful candidate should have at least 3-year … in office management.
a) qualifications b) experience c) efficiency
29. Our company is determined to … so that we might reach our full potential.
a) increase b) recess c) expand
30. … is the term given to different activities involved in distributing goods from the manufacturer to the final
customer.
a) Distribution b) Marketing c) Retailing
31. An advertisement on radio or television is called a ….

a) movie b) sales program c) commercial
32. … is used to increase sales by making the product or service known to a wider audience.
a) Advertising b) Promotion c) Research
33. If you pay … I’ll give you a 5% discount.

a) price b) cash c) bill
34. They’ve just launched an advertising ….

a) promotion b) company c) campaign
35. An amount of money required to start or expand a business is ….

a) rent b) capital c) loan
36. People who buy goods or services are ….

a) users b) customers c) suppliers
37. People who work inside a company are its ….

a) customers b) suppliers c) employees
38. Last year we increased our market ….

a) stock b) stake c) share
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39. She put all her money into government ….
a) investment b) shares c) bonds
40. The firm attempted … its nearest competitor.

a) to take after b) to take over c) to take off
41. I … for the position of a production manager.

a) applied b) employed c) recruited
42. We suggest you the high quality product, which is not expensive ….
a) to discount b) to buy c) to invent
43. Our … is to increase the market share within a few months.

a) responsibility b) ambitions c) objective
44. … situation is stabilizing at present.

a) Economy b) Economic c) Economical
45. They are very … in their expenditures

a) economics b) economic c) economical
46. Fixed assets are what a company ….

a) owes b) sells c) owns
47. Current liabilities are what a company ….

a) invests b) owes c) buys
48. Wealth used to produce more wealth is called ….

a) liabilities b) goods c) capital
49. Balance sheet is a statement of how much … has come in and how much has gone out.
a) capital b) money c) shares
50. I’m a salesman and work in the … department.

a) Advertising b) Accounting c) Export
51. New technologies make global … easier.

a) market b) communication c) travelling
52. Yon can buy the same software quite … at our local market.
a) reasonable b) cheaply c) free
359
53. He bought stocks during the … market, when the share prices were the lowest, and
sold them when they rose.
a) bear b) bull c) boom
54. A movement to a more important job, with more responsibility and money is ….
a) recruitment b) career c) promotion
55. To do business, to buy and sell is to ….

a) do research b) trade c) perform
56. To make the necessary arrangements for starting a business means to ….

a) maintain a business b) reorganize c) set up a business
57. A great number of companies in Russia were … by the 1998 financial crash.
a) affected b) infected c) effected
58. Due to our new supply system more products are … to consumers and supply costs are lower.
a) reduced b) limited c) available
59. Our company has 220 … at present.

a) employers b) employees c) workforce
60. Big companies cannot rely exclusively on their … markets. They have to become more international in their
outlook if they want to survive.
a) consumer b) competitive c) domestic
360
VOCABULARY
abandon (v)  відмовлятися, залишати

abolish (v)  скасувати; усувати
accept deposits (v)  приймати депозити (вклади)
accept the job offer  приймати пропозицію про роботу
acceptable  прийнятний
accessible  досяжний, доступний
account  в практиці рекламних агенцій
загальновизнаною є назва
контракту між клієнтом, який
платить за здійснення
професійної послуги, та агенцією
accountant  бухгалтер
accounting department  бухгалтерія
accounting records  бухгалтерські рахунки,
документація
accumulate (v)  накопичувати
accurate  точний, правильний
accuse (v)  звинувачувати (у чомусь-of)
achieve (v)  досягати, успішно виконувати
acquire (v)  придбати
adequate  що відповідає вимогам,
відповідний, компетентний
administer trade agreements (v)  керувати торговельними угодами
administration  управління, керування
(справами); адміністрація,
керівництво
advantage  перевага
advertise (v)  рекламувати
advertisement (advert, ad)  реклама; рекламне оголошення
advertising  рекламна справа; реклама;
рекламування
advertising agency  рекламна агенція
advertising campaign  рекламна компанія
advertising media  засоби розповсюдження реклами
affect (v)  діяти на
aim  ціль, мета
allocate (v)  розміщати (капітал); асигнувати,
364
VOCABULARY
приділяти
amount  кількість, загальна сума
annual report  річний звіт
annual salary  річний оклад (службовців)
anticipate (v)  очікувати; передбачати
applicant  подавач заяви, прохач; кандидат,
претендент; заявник
application  застосування; використання
application form  анкета, заява
apply for (v)  звертатися з проханням, подавати
заяву
appoint (v)  призначати, затверджувати (на
посаді)
approach  підхід
appropriate  відповідний, підхожий
arbitrarily  довільно; випадково
assemble (v)  збирати
assets  майно, активи
assets and liabilities  активи та пасиви
at an advantageous price  за вигідною ціною
at the checkout  на виході
attractive  притягальний; привабливий
audit  аудит; перевірка, ревізія; ауди-
торська перевірка фінансових
операцій
auditing  здійснення аудиту; перевірка
звітності; ревізування
auditor  аудитор; ревізор
auditor  аудитор, бухгалтер-ревізор
authority  керівництво, влада; повноваження
available  наявний, доступний
balance of trade  торговий баланс
balance sheet  баланс; балансовий звіт
banking  банківська справа
banking facilities  банківські послуги, банківські
операції
bankrupt  банкрут
bankruptcy  банкрутство
barrier  бар’єр
365
be due for (v)  бути зобов’язаним; підлягати
виплаті
be engaged in (v)  займатися
be in a state of insolvency /  бути неплатоспроможним
be insolvent
be in business (v)  займатися торгівлею, займатися
бізнесом
be in charge of (v)  керувати
be liable for  бути відповідальним за
be offended (v)  бути ображеним
be self-employed (v)  працювати самостійно;
працювати не за наймом
beads  намисто; буси
bear market  ринок акцій, на якому
знижуються ціни; ринок
“ведмедів”
benefit  перевага; користь, вигода;
прибуток
benefits package  пакет пільг
bill  рахунок (за послуги, товар тощо)
bind (v)  зобов’язувати (законом і т.ін.)
blue-collar worker  робітник; блакитний комірець
(працівник, зайнятий фізичною
працею)
Board of Directors  правління, рада директорів
bond  облігація
bonus  премія
bookkeeping  бухгалтерія; рахівництво
books  бухгалтерські книги
borrow (v)  позичати (у когось - from)
borrowing  позика (коштів); кредит
bow (v)  кланятися
brand image  імідж торгової марки
bricks-and-mortar  традиційна торгівля
brief  справа; короткий виклад
broadcasting  трансляція
brown goods  такі товари, як телевізори,
високотехнологічне обладнання
browser  броузер (програма)
budget  бюджет, фінансовий кошторис
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VOCABULARY
budget for, v  планувати майбутні прибутки і
витрати
budgeting  складання бюджету
bug  помилка в програмі
bull market  ринок акцій, на якому
підвищуються ціни; ринок “биків”
business  бізнес, комерційна діяльність,
торгове підприємство, фірма,
справа, заняття
businesspeople  ділові люди
buyout  придбання контрольного пакета
акцій, викуп
capital goods  засоби виробництва; товари
виробничого призначення
carry out (v)  виконувати, здійснювати
cash cow  високоприбутковий товар або
бізнес
cash flow  потік готівки
cash flow statement  баланс оборотних коштів
(активів)
cause offence to smb (v)  образити (скривдити) когось
Central bank  Центральний банк
certified public accountant (AmE) /  дипломований бухгалтер вищої
chartered accountant (BrE) кваліфікації; бухгалтер-ревізор
Chairman of the Board  голова правління
charge (v)  призначати, вимагати плату
classify (v)  класифікувати
clicks-and-mortar  поєднання електронної торгівлі з
традиційною
client  клієнт, замовник, покупець
професійної послуги
closure  закриття, завершення
coin  монета
colleague/co-worker  колега, співробітник
combine (v)  об’єднуватися
commercial bank  комерційний банк
commission  комісійна винагорода, комісійні
commodity market  товарний ринок
commodity market  товарна біржа
communicate (v)  повідомляти (когось-to),
367
передавати
company  компанія, фірма
compensation package  загальна сума оплати праці
compile (v)  укладати; збирати (матеріали
тощо)
complete the form (v)  заповнити анкету
conglomerate  конгломерат
consortium  консорціум
consume (v)  споживати
consumer  споживач
consumer products  споживчі товари, товари
широкого вжитку
consumer protection  захист споживача
consumer taste  смак споживача
consumerism  консумеризм (рух на захист прав
споживача)
consumption  споживання
contribute to (v)  робити внесок; сприяти (чомусь)
control device  контрольний засіб, стандартний
план діяльності бізнесу
controlling share  частка в капіталі компанії, яка
забезпечує контроль за її
діяльністю
convenience goods  товари повсякденного попиту
corporate advertising  реклама фірми
corporate website  корпоративна веб-сторінка
corporation  корпорація
costs  витрати, видатки; вартість,
собівартість
covering letter  супровідний лист
creative accounting  “творчий бухоблік” (методи
завищення прибутку в обліковій
практиці)
credit card  кредитна картка
creditor  кредитор
crime  злочин; злодіяння
current assets  поточні оборотні активи (кошти),
оборотний капітал
current liabilities  короткострокові зобов’язання
(пасиви)
368
VOCABULARY
curriculum vitae (CV, BrE)  автобіографія, резюме
custom  звичай
customer  замовник, клієнт, покупець
customer  покупець товару чи послуги,
клієнт, замовник
data  дані
day-to-day  повсякденний
deal  угода
deal with (v)  займатися (чимось); бути
клієнтом, купувати (у когось)
dealings (pl.)  ділові стосунки; торговельні
справи (угоди)
debt  борг; зобов’язання
debt factoring  борговий факторинг
decline  занепад
define (v)  визначати
demand  попит, потреба
depend on (v)  залежати від
deposit  депозит, вклад у банку
derivative instrument/derivative  похідний інструмент
desire  бажання; прагнення; побажання
desktop  настільний комп’ютер
direct costs  прямі витрати
direct debit  пряме дебетування
dismiss (v)  звільняти (з роботи)
dismissal  звільнення з роботи
display  показ, демонстрація; виставка
display (advertising)  ілюстративна (реклама)
distribute (v)  розподіляти; роздавати
distribution  розподіл; розповсюдження;
розміщення; збут
diversify (v)  різноманітити, варіювати
diversify (v)  різноманітити (діяльність);
диверсифікувати
divest of (v)  позбавляти; відмовлятися;
відкидати
do business (v)  вести бізнес, займатися бізнесом
do’s and don’ts  правила поведінки
dog  неприбутковий товар, якого треба
369
позбутися
domain name  ім’я домена, тобто тип організації,
якій належить комп’ютер
domestic  вітчизняний, внутрішній
dominate (v)  заволодівати, цілком поглинати;
панувати, володарювати
download (v)  завантажувати
earn (v)  заробляти
E-commerce/online trading  електронна торгівля
efficient  ефективний
electronic mail box  електронна поштова скринька
e-mail  електронна пошта
embarrasment  збентеження; розгубленість;
замішання
emerge (v)  з’являтися, виникати
employee  службовець, співробітник,
працівник
employer  наймач, роботодавець
employment  зайнятість, робота за наймом;
надання роботи
employment contract  трудовий контракт
employment/ recruitment agency  агентство з добору кадрів
enquiry  запит; запитання
ensure (v)  забезпечувати, гарантувати
enterprise  підприємство
entrepreneur  підприємець
establish a business (v)  створювати бізнес
evaluation  оцінювання, оцінка; аналіз
(даних)
exceed (v)  перевищувати
exchange control  валютне регулювання
executive (exec)  керівник, адміністратор,
службовець; виконавець
expand a business (v)  розширювати бізнес
expenditure  витрати; витрачання, видаток
expenses/expenditure  витрати, видатки
extra capital  додатковий капітал
failing company  проблемна компанія; компанія,
що зазнає ускладнень; компанія
на межі банкрутства
370
VOCABULARY
fast-moving consumer goods  ходові споживчі товари
fee  гонорар; винагорода; плата
Finance department  фінансовий відділ
financial enticement  фінансове заохочення
financial performance  фінансова діяльність (компанії)
financial records  фінансова документація,
фінансові звітні матеріали
(документи)
financial reserves  фінансові резерви
financial statement  фінансовий звіт (компанії)
finished products  готові вироби
fire (v)  амер. звільняти з роботи
firm  фірма
fiscal affairs  фінансові справи
fiscal year  бюджетний рік; фінансовий рік
fixed assets  неліквідні активи; основний
капітал
fixed costs  основні витрати
fixed rate of interest  фіксована процентна ставка
fixed-term contract  строковий контракт
flexible  гнучкий
flyer  листівка
foreign exchange  іноземна валюта
foreign exchange (forex) market  валютна біржа
framework  рамки; межа; структура
free trade  вільна торгівля
freight  фрахт, перевезення вантажу
fringe benefits/perks  додаткові пільги
futures  ф’ючерс, терміновий контракт,
термінова угода
generate, (v)  створювати
generous  щедрий; великий; значний
gift  подарунок
gilt-edged security /gilt (BrE)  гарантований цінний папір
go bankrupt/ go bust (v)  збанкрутуватися
go into liquidation/into receivership  збанкрутуватися
(v)
go out of business (v)  ліквідувати підприємство
golden goodbye/golden  золоте прощання /золотий пара-
371
handshake/golden parachute шут (велика компенсаційна сума
грошей та різні привілеї
посадовій особі, що іде у
відставку; велика одноразова
виплата директору, менеджеру,
що йдуть у відставку, або
працівнику, який залишає
компанію)
golden hello  золоте привітання; велика сума
грошей чи інша форма
фінансового заохочення, яку
компанія пропонує керівникам
високої кваліфікації, яких
запрошує на роботу
government accountant  урядовий бухгалтер
grant  дотація; субсидія, грант; грошова
допомога
growth  зростання
hacker  хакер
handle (v)  мати справу з (чимось)
hardware  апаратне забезпечення
Head of a company  керівник компанії
headhunter  спеціаліст, який підбирає на
роботу керівників вищого рангу
hire (v)  наймати (робітників)
hire purchase  купівля у розстрочку
hoarding (BrE)/billboard (AmE)  щит, дошка для наклеювання
оголошень, афіш, плакатів тощо
hold (v)  володіти
hold a position (v)  займати посаду
holding company  холдингова компанія
hostile takeover  (в бізнесі) одержання контролю
над компанією проти бажання її
менеджменту; вороже поглинання
hourly-paid staff  персонал, який отримує заробітну
платню погодинно
Human resources (HR)  персонал, людські ресурси
Human Resources department  відділ кадрів
identifier  ідентифікатор; ім’я користувача
impact  вплив
372
VOCABULARY
implement (v)  виконувати, здійснювати
impulse goods  товари імпульсного попиту
in advance  заздалегідь
income  прибуток; дохід; заробіток
indication  ознака, свідчення; показник
indirect costs  непрямі, посередні витрати
industrial products  товари виробничого призначення
industry  промисловість, індустрія, галузь
промисловості
insurance  страхування
interest  процентний прибуток; відсоток;
частка (в чомусь); інтерес,
зацікавленість
interest rate  позиковий процент/відсоток
internal audit  внутрішній аудит
international trade  міжнародна торгівля
interviewee  особа, яка дає інтерв’ю;
запрошений на співбесіду
interviewer  інтерв’юер
introduce/launch (a product) on to  впровадити продукт на ринку
the market (v)
investigate (v)  досліджувати, вивчати
investment bank  інвестиційний банк
invisible exports (imports)  невидимий експорт (імпорт)
involve (v)  містити в собі, мати на увазі
job description  посадові обов’язки/вимоги;
посадова інструкція
job rotation  зміна робіт; ротація робочих
завдань
job security  гарантія роботи, стабільність
роботи, гарантія зайнятості,
забезпечення роботою
job title  назва посади
jobseeker  людина, яка шукає роботу
join (v)  об’єднуватися, приєднуватися
joint venture  спільне підприємство
keep trade policy (v)  дотримуватися торгової політики
laptop  портативний комп’ютер
lay off (v)  припиняти роботу;
амер. звільняти робітників
373
layoff  звільнення (звич. під час скоро-
чення виробництва), скороче-ння
персоналу
leaflet  листівка, невелика тоненька
брошура
leasing  лізинг, довгострокова оренда
legal entity  юридична особа
legal ground rules  основні правові норми
lender  кредитор, позикодавець
limited liability company  компанія з обмеженою
living standard  життєвий рівень
loan  позика
location  місце знаходження, розташування
long-term liabilities  довгострокові зобов’язання
(пасиви)
loss leader  товар, який продається за
зниженими цінами для того, щоб
приваблювати покупця
make a bid (for something)  робити пропозицію (щодо купівлі
чогось за зазначену ціну)
make a decision (v)  приймати рішення
make a loan (v)  одержати позику, надавати
позику
make an acquisition  придбати
make redundant (v)  звільнити у зв’язку зі
скороченням штату
malfunction  порушення функціонування
manage customers’ accounts (v)  вести рахунки клієнтів (у бан-ку)
Managing Director  генеральний директор
manual worker  робітник фізичної праці
manufacturing sector  виробничий сектор
market  ринок
market (a product) (v)  знаходити ринок збуту; прода-
вати
market leader  компанія, яка займає провідне
становище на ринку
market niche  ринкова ніша, невеликий сег-мент
ринку для збуту певного товару
market research  вивчення (можливостей) ринку;
дослідження ринку
374
VOCABULARY
market segment  сегмент ринку
market share  частка ринку
market-driven / market-led /  з ринковою орієнтацією
market-oriented
marketer/marketeer  діяч ринку, спеціаліст, прода-вець
Marketing department  відділ маркетингу
marketing mix  формула маркетингу, комплекс
маркетингу
marketing strategy  стратегія маркетингу
market-maker  дилер, який проводить операції з
цінними паперами
master budget  головний бюджет, загальний
бюджет
measure of value  мірило вартості
media  засоби масової інформації,
засоби/носії реклами
medical insurance  медична страховка
medium of exchange  засіб обміну
meet the needs (v)  задовольняти потреби
merchandise  товар(и)
merchant bank  торговельний банк
merge (v)  зливатися, об’єднуватися,
поглинати
merger  злиття, поглинання
message  повідомлення, послання
money spinner  товар, що дає великі прибутки
monitor (v)  контролювати, перевіряти,
спостерігати
monthly-paid staff  персонал, який отримує заробітну
платню щомісячно
mortgage  іпотека; застава; заставна
motivate (v)  спонукати
multinational  міжнародна, мультинаціональ-на
корпорація
Mutual Fund (AmE)  взаємний фонд; інвестиційний
фонд
national producer  національний виробник
nationalize (v)  націоналізувати
needs  потреби
network  мережа
375
objective  мета, завдання
obvious  очевидний; ясний, зрозумілий
offer (v)  пропонувати
on the payroll  в штатному складі (підприємства)
on the verge of (bankruptcy)  на межі (банкрутства)
operating plan  виробничий план
option  опціон, угода з премією
(обумовлене виплатою премії
право купити чи продати цінні
папери за встановленим курсом)
outplacement  працевлаштування працівників,
яких було звільнено при
скороченні штатів
output  продукція; випуск, виготовлення;
обсяг виробництва;
продуктивність
outside/external/independent audit  зовнішній аудит
overdraft  перевищення кредиту; овердрафт
overhead costs/overheads  накладні витрати
oversee (v)  наглядати, стежити за (кимсь,
чимсь)
own (v)  володіти
owner  власник
package (v)  пакувати
palmtop  кишеньковий комп’ютер
paper bills  паперові банкноти
parent company  компанія-засновник; компанія, що
володіє контрольним пакетом
акцій іншої компанії, батьківська
компанія
partnership/general partnership  товариство
part-time worker  робітник, який зайнятий неповний
робочий день
pass a law (v)  приймати закон
patience  терпіння, терплячість
pay off the debts (v)  розрахуватися з боргами
payroll  платіжна відомість
pension  пенсія
pension plan  програма пенсійного
забезпечення
376
VOCABULARY
permanent job  постійна робота
personal assistant  секретар-референт
personnel  персонал, штат
Personnel department  відділ кадрів
persuade (v)  переконувати
persuade (v)  переконувати, схиляти умовляти
point of sale  місце здійснення продажу
portfolio  портфель цінних паперів
post  посада
poster  афіша; плакат; оголошення
premises  приміщення; будинок з
прилеглими будівлями і ділянкою
preserve (v)  зберігати; підтримувати
price  ціна
primary  основний; найважливіший
private accountant  приватний бухгалтер
private limited company (BrE)  закрита акціонерна компанія
/limited liability company (AmE)
private sector  приватний сектор
privatize (v)  приватизувати
product  продукт; виріб; продукція
product life cycle  життєвий цикл товару
Production department  виробничий відділ
profit  прибуток
profit and loss account  звіт про прибутки та збитки;
(P&L)/income statement рахунок прибутків і збитків;
profitable  прибутковий
profitable  прибутковий, вигідний;
рентабельний
promise  обіцянка
promotion  сприяння у продажу (товару)
protect (v)  захищати
protectionist measures  протекціоністські заходи
provide services (v)  надавати послуги
public  громадськість
public limited company (BrE)/  відкрита акціонерна компанія з
listed company (AmE) обмеженою відповідальністю
public relations (PR) expert  експерт з питань організації
громадської думки
377
public sector  державний сектор
publicity  пабліситі; реклама; публічність;
гласність
publicity  реклама, рекламування;
пропагування
pull out (v)  відмовлятися від участі в чомусь
purchase  закупівля, покупка
purchase (v)  купувати, придбавати
purchasing power  купівельна спроможність
purpose  мета
pursue (v)  переслідувати (інтерес)
quit one’s job (v)  залишати роботу; звільнятися; іти
у відставку
quota  квота
raider  рейдер (приватна особа або
корпорація-інвестор, що має
намір отримати контроль над
компанією шляхом придбання
контрольного пакета акцій і
призначення нових керівників)
raise capital (v)  збільшувати капітал, залучати
капітал
raise finance (v)  залучати фінанси
rate of interest  позиковий процент
raw materials  сировинні матеріали
receipt  одержання
receivables  рахунки дебіторів; дебітори,
дебіторська заборгованість
receiver / administrator /  ліквідатор; офіційна особа, яка
liquidator призначена судом для ліквідації
компанії-банкрута
record (v)  реєструвати; фіксувати
recruit (v)  наймати на роботу
recruitment  набір (кадрів); надання роботи
redundancy  скорочення штатів; звільнення
робітників (службовців)
redundancy payment  допомога при звільненні з роботи
(наприклад при скороченні штатів)
reference  рекомендація
reflect (v)  відображувати
378
VOCABULARY
regulation  регулювання
reject (v)  відхиляти
relationship  відносини
reliability  надійність
relocate (v)  переміщати, переселяти
remain (v)  залишатись
remuneration  винагорода; оплата; компенсація
rent on properties  дохід від нерухомого майна
repay (v)  розрахуватися (за щось); повертати
(борг)
report to (v)  звітувати; підпорядковуватися
resale  перепродаж
rescue (v)  рятувати
research (v)  вивчати, досліджувати
Research and Development  відділ наукових досліджень та
department розробок
resign (v)  іти у відставку; відмовлятися від
посади; складати з себе обов’язки
respond (v)  відповідати; реагувати,
відгукуватися (на щось)
restriction  обмеження
restructure (v)  реорганізовувати, перебудовувати
resume (AmE)  резюме
retail trade  роздрібна торгівля
retain (v)  зберігати; утримувати
retained profit  нерозподілений прибуток
retire (v)  залишати посаду, іти у відстав-ку
(на пенсію), звільнятися
retrieve (v)  відшукувати, знаходити (дані)
revenue  дохід; надходження; прибуток
review  перевірка; перевіряти
run a business (v)  керувати підприємством
run costs (v)  керувати, управляти витратами
sack (v)  звільняти з роботи
safeguard (v)  гарантувати (щось), охороняти
safety  безпека
salary  заробітна платня
Sales department  відділ збуту
satisfy (v)  задовольняти
379
savings account  ощадний рахунок
savings bank  ощадний банк
search (v)  шукати
securities  цінні папери
sell-off  розпродаж
senior executive /manager керівник вищого рангу, менеджер
 найвищого рівня
top executive/manager
separate  окремий
service sector  сектор послуг
set up a business (v)  створювати бізнес
settle trade disputes (v)  урегульовувати торгові конфлікти
share  акція
share issue розміщення, випуск нових цінних
share flotation паперів на вільний ринок
share offering
share option  опціон на акції (пільга, яку іноді
отримують працівники компанії.
Вона надає їм право купувати
акції компанії зі знижкою по
відношенню до ринкової ціни.
shareholder  акціонер
shopping goods  товари попереднього вибору
sign (v)  підписувати
simplify (v)  спрощувати
single currency  єдина валюта
sister company  сестринська компанія
skills  навички
software  програмне забезпечення
sole trader/sole proprietorship  одноосібна власність
specialize (in something) (v)  спеціалізуватися
specialty goods  товари особливого попиту,
престижні товари
spell out (v)  розшифровувати; пояснювати
точно
stable  стабільний
staff  персонал, штат (службовців тощо)
staff appraisal  оцінка роботи персоналу
stake  частина (чогось), частка
(капіталу), акція
380
VOCABULARY
standing order  постійне доручення
start-up  нещодавно створена компанія
statement  виклад, формулювання
stock exchange  фондова біржа
stock market  фондова біржа
stockbroker  біржовий маклер/брокер
store (v)  зберігати
store of value  засіб заощадження
strengths  сильні сторони
subscriber  абонент
subsidiary  дочірня компанія, підконтрольна
компанія, філія
succeed (v)  досягати успіхів, процвітати
suit (v)  влаштовувати, задовольняти
superior  начальник, старший
supervisor  інспектор; керівник персоналу (на
підприємстві); контролер;
керівник нижчої ланки
supply  постачання
support  підтримка, допомога
surf the Net (v)  мандрувати по мережі в пошуках
інформації, здійснювати серфінг
по мережі
survive (v)  вижити; продовжувати існувати
sustainable  усталений
swap  своп, обмін активами чи
зобов’язаннями
take early retirement (v)  рано піти на пенсію (у відставку)
take into consideration (v)  брати до уваги
take over (v)  поглинати (компанію)
target customer  потенційний клієнт
target market  цільовий ринок
tariff  тариф
tax  податок
team  бригада, група, команда
temporary job  тимчасова робота
terminate (v)  звільняти з роботи
the European Union (the EU)  Європейський союз
the Federal Reserve System (the  Федеральна резервна система
381
Fed)
the International Monetary Fund  Міжнародний валютний фонд
the standard operating procedures  стандартні методи роботи
the World Bank  Світовий (Міжнародний) банк
The World Trade Organization  Світова організація торгівлі
(WTO)
the World Wide Web (WWW)  всесвітня мережа
time-lag  відставання в часі; спізнення
time-saving method  метод, що заощаджує час
tip  чайові; невеликий грошовий
подарунок
trade (v)  торгувати
trade (v)  торгувати (чимсь - in;)
trade deficit  дефіцит торгового балансу
trade fair  торговий ярмарок
trade negotiations  торгові переговори
trade rights  торгові права
trade surplus  надлишок торгового балансу
training course  курс навчання
transaction cost  вартість угоди
transfer (v)  переказувати (гроші);
перераховувати (суми)
transfer of funds  переказ грошей
transmission  передача
transparent  прозорий; очевидний
treasury bond (AmE)  казначейська облігація
trust (v)  довіряти
turn down the job offer  відхиляти пропозицію про роботу
turnover  оборот
undertake (a project) (v)  розпочинати, здійснювати (проект)
unemployed  безробітний
Unit Trust (BrE)  пайовий інвестиційний фонд/ траст
unlimited liability company  компанія з необмеженою
unobtainable  недосяжний, недоступний
user  користувач
utilities  комунальні послуги
vacancy  вакансія
382
VOCABULARY
value  ціна, вартість; цінність
variable costs  змінні витрати

vary (v)  відрізнятися; змінюватися
visible exports (imports)  експорт (імпорт) товарів, видимий
експорт/імпорт
voluntarily  добровільно, за власним бажанням
voluntary liquidation  добровільна ліквідація
wages  заробітна платня (робітників)
weakness  недолік, уразливе місце
wealth  матеріальні цінності, багатство
web page  веб-сторінка
weekly-paid staff  персонал, який отримує заробітну
платню щотижнево
welfare  соціальне забезпечення; допомога
з соціального забезпечення
whale  кит
white goods  такі товари, як пральні машини,
холодильники
white-collar worker  службовець; білий комірець
(працівник, зайнятий
інтелектуальною працею)
wholesale trade  оптова торгівля
willingly  охоче; добровільно, без примусу
window dressing  “прикраса вітрини”, “причісу-
вання балансу”; створення
враження високої ліквідності,
прикрашання дійсного стану
справ
withdraw (v)  вилучати; анулювати
witness (v)  бути свідком (чогось)
word-of-mouth (advertising)  усна (реклама)
work freelance (v)  працювати не за наймом; бути
вільним художником
work load  робоче навантаження
workforce  робоча сила; кадри, штатні
працівники
working capital  оборотний капітал; оборотні
фонди
working conditions  умови праці
383
yardstick  мірило; мірка; критерій
384
СПИСОК ВИКОРИСТАНОЇ ЛІТЕРАТУРИ
1. Barbara Campbell “Guide to English for Business”, Chambers, 1999

2. Bill Mascull “Key Words in Business”, Harper Collins Publishers, 1996
3. Bill Mascull. Cambridge University press, 2003
4. Bob Obee “Cambridge First Certificate. Grammar and Usage”, Cambridge
University Press, 1995
5. Chis Lewis “Using the Internet”, Dorling Kindersley, 1997
6. Collins Dictionary of Economics, Harper Collins Publishers, 1988
7. David Evans “Business English Verbs”, Penguin English, 2000
8. Edwin Kovanda Reader Nakladatelstvi Fraus, Plzen 1998
9. Ian Chambers, adviser Diane Wallace “Collins GEM Business Studies Basic
Facts”, Harper Collins Publishers, 1993
10. M. I. Balla English-Ukrainian Dictionary, Київ “Освіта”, 1996
11. Michael Lane “How to Set up and Run a Company”, Easyway Guides, 1998
12. Miroslav Kaftan. Modern Business English in Enterprise. Leda Praha, 2001
13. Nick Brieger, Simon Sweeney, “The Language of Business English”,
Prentice Hall, 1994
14. Oxford Dictionary of Business English, Oxford University Press, 1996
15. Pride/Hughes/Kapoor “Business”, Second Edition, Houghton Mifflin
Company, 1988
16. Pride/Hughes/Kapoor, K. Hegar “Business. Study Guide”, Third Edition,
Houghton Mifflin Company, 1991
17. Ricky W. Griffin, Ronald J. Ebert “Business”, Third Edition, Fall 1992
18. Sandra Costenett “The Language of Accounting in English”, Prentice Hall,
1997
19. The Cassell Concise Dictionary, 1997
20. The New International Webster’s Comprehensive Dictionary of the English
Language. Encyclopedic edition, Trident Press International, 1996
21. The Newbury House Dictionary of American English, 1996
22. The Penguin Dictionary of English Idioms, Penguin Books, 1994
23. Warrent R. Plunkett, Raymond F. Attner “Introduction to Management”,
Fifth Edition
24. Л.І. Євтушенко, І.М. Гнатюк, Н.Ф. Михненко, Н.А. Шевченка, Н.А.
Шпак. Англо-українсько-російський тематичний словник ділової
лексики. – К.: Інкос, 2006
386
CONTENTS
TO THE STUDENT.....................................................................................4
DIAGNOSTIC PRE-TEST.........................................................................5
UNIT 1 BUSINESS AND BUSINESSES
Lesson 1
Text: Business Organization...........................................................................7
Grammar: Present Simple and Present Continuous........................................13
Lesson 2
Text: Business Organization and the Economy..............................................17
Grammar: Past Simple and Past Continuous...................................................23
Lesson 3
Text: Ownership..............................................................................................26
Grammar: Present Perfect Simple...................................................................32
Lesson 4
Text: Business Relationship............................................................................36
Grammar: Present Perfect Continuous............................................................42
Lesson 5
Text: Companies’ Restructuring.....................................................................45
Grammar: Past Perfect Simple........................................................................52
Lesson 6
Text: Organizational Structure........................................................................55
Grammar: Past Perfect Continuous.................................................................63
Test 1 (Unit I).................................................................................................67
Lesson 1
Text: Employment...........................................................................................70
Grammar: Tense Revision. Present time.........................................................77
Lesson 2
Text: Human Resources: the People...............................................................80
Grammar: Tense Revision. Past time..............................................................85
Lesson 3
Text: Recruitment Procedure...........................................................................88
Grammar: Future time (uses of shall/ will/going to/ present continuous/present
simple to talk about the future).....................................................96
Lesson 4
Text: Interviewing...........................................................................................99
Grammar: Future time (Future Continuous, Future Perfect)...........................105
387
Lesson 5
Text: Executive Pay.........................................................................................108
Grammar: When and if sentences...................................................................115
Lesson 6
Text: Leaving a Job.........................................................................................118
Grammar: Tense Revision. Grammar Progress Test I ...................................123
Test 2 (Unit II)...............................................................................................126
Lesson 1
Text: Customers, Consumers and Clients.......................................................128
Grammar: The Passive Voice (Simple)...........................................................133
Lesson 2
Text: Markets and Market Orientation............................................................135
Grammar: The Passive Voice (Continuous)....................................................142
Lesson 3
Text: Products, Goods and Services................................................................145
Grammar: The Passive Voice (Perfect).
Grammar Progress Test II (Passive Voice)...................................151
Lesson 4
Text: Marketing...............................................................................................155
Grammar: The Sequence of Tenses.................................................................161
Lesson 5
Text: Advertising.............................................................................................163
Grammar: Reported Speech (Statements).......................................................169
Test 3 (Unit III)..............................................................................................173
Lesson 1
Text: Costs. Assets and Liabilities..................................................................175
Grammar: Reported Questions, Orders, Requests...........................................181
Lesson 2
Text: Raising Finance......................................................................................184
Grammar: First Conditional............................................................................189
Lesson 3
Text: Financial Centres...................................................................................192
Grammar: Second Conditional........................................................................196
Lesson 4
Text: Investments............................................................................................200
Grammar: Third Conditional.
388
CONTENTS
Grammar Progress Test III (Conditionals)..................................205
Lesson 5
Text: Financial Statements..............................................................................210
Grammar: Expressing Wishes and Regrets.....................................................215
Lesson 6
Text: Bankruptcy.............................................................................................218
Grammar: Modal Verbs (Ability. Permission)................................................223
Test 4 (Unit IV)..............................................................................................226
UNIT V ACCOUNTING
Lesson 1
Text: The Field of Accounting........................................................................228
Grammar: Modal Verbs (Obligation and Necessity)......................................233
Lesson 2
Text: Budgeting...............................................................................................236
Grammar: Modal Verbs (Certainty, Possibility, Probability).........................241
Lesson 3
Text: Auditing.................................................................................................243
Grammar: Modal Verbs with the Perfect Infinitive........................................248
Test 5 (Unit V)................................................................................................251
Lesson 1
Text: Money and its Functions........................................................................254
Grammar: Grammar Progress Test IV (Modal Verbs)....................................262
Lesson 2
Text: Types of Banks......................................................................................265
Grammar: Comparison of Adjectives..............................................................272
Lesson 3
Text: Banking Services...................................................................................275
Grammar: Comparison of Adverbs.................................................................280
Lesson 4
Text: The Euro.................................................................................................282
Grammar: Comparatives: other points............................................................287
Test 6 (Unit VI)..............................................................................................290
UNIT VII INTERNATIONAL BUSINESS
Lesson 1
Text: International Trade.................................................................................292
389
Grammar: The Infinitive.................................................................................298
Lesson 2
Text: Export and Import..................................................................................301
Grammar: The Gerund....................................................................................306
Lesson 3
Text: World Trade Organization.....................................................................309
Grammar: Infinitive or Gerund?......................................................................316
Lesson 4
Text: Business Across Cultures.......................................................................319
Grammar: The Participle.................................................................................324
Test 7 (Unit VII)............................................................................................327
UNIT VIII BUSINESS COMMUNICATION
Lesson 1
Text: Computers..............................................................................................330
Grammar: Countable and Uncountable Nouns...............................................334
Lesson 2
Text: Internet. WWW......................................................................................337
Grammar: Either … or; both … and; neither … nor.......................................341
Lesson 3
Text: E-mail.....................................................................................................344
Grammar: Possession......................................................................................348
Lesson 4
Text: Doing Business on the Internet..............................................................351
Grammar: Numbers (fractions, decimals, percentages)..................................355
Test 8 (Unit VIII)...........................................................................................357
REVISION TEST.........................................................................................359
VOCABULARY............................................................................................364
СПИСОК ВИКОРИСТАНОЇ ЛІТЕРАТУРИ......................................386
390

Латиг на А.Г. Базовий курс англ йсько мови з економ ки (Basic English of Economics) п дручник

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Латиг на А.Г. Базовий курс англ йсько мови з економ ки (Basic English of Economics) п дручник

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To the Student

“There are two ways of spreading

Business plays a vital role in the economy. If you wish to

Choose the most suitable word or phrase.

2. When ______ the conference?

3. This picture _______ by Goya.

4. He said his name ______ Tom.

5. If I meet him I ________ him my new address.

6. My friend wishes he ________ a car.

7. I want to finish this letter before my secretary _________ .

8. He wanted me ______ him five euro.

9. The office manager had a difficult decision to make today, _____ ?

10. Helen is ______ person I know.

11. She _______ here for 10 years.

12. We _______ examinations twice a year.

13. Last year we hoped she ________ come.

14. If they ______ to an agenda, we must postpone the meeting.

15. The new employee is both ambitious _______ hard working.

17. At this moment, I _______ my ears!

18. She _______ all of her work by 9.00 p.m. tonight.

19. All my money _______ by the burglars!

20. He ______ away from work all this week.

21. Our guests _______ . They are sitting in the office.

22. If I ________ you I would tell him the truth.

23. All his money ________ spent on books last month.

24. She has neither friends ______ relatives to help her.

25. He is not so ______ as I am.

26. I wish you _______ so much coffee.

27. I expect _______ to help you.

28. I heard that he _______ his own business.

29. I didn’t see this girl _______ .

30. I can’t join your company. I have ________ time.

Text: Business Organization

satisfy (v)  задовольняти

survive (v)  вижити; продовжувати існувати

depend on (v)  залежати від

business  бізнес, комерційна діяльність, торгове

company  компанія, фірма

vary (v)  відрізнятися; змінюватися

provide services (v)  надавати послуги

multinational  міжнародна, мультинаціональна

establish a business (v)  створювати бізнес

start-up  нещодавно створена компанія

be in business (v)  займатися торгівлею, займатися

do business (v)  вести бізнес, займатися бізнесом

trade (v)  торгувати

deal with (v)  займатися (чимось); бути клієнтом,

expand a business (v)  розширювати бізнес

specialize (in something) (v)  спеціалізуватися

diversify (v)  різноманітити, варіювати

affect (v)  діяти на

Exercises in Word Study

Ex.1.Form verbs and adjectives from the following nouns:

Ex.2. Give the English for:

Ex.4. Find suitable opposites to the following words and phrases:

Ex.6. The words in the box frequently occur after “business”.

Find combinations that mean:

Ex.8. Write the appropriate word or phrase in the following spaces.

Ex.9. These words are often confused:

Ex.1. Answer the following questions:

Ex.2. Sum up what you remember about:

Present Simple and Present Continuous

Ex.1. Choose the correct variant.